2024 Observer Media Terms Privacy. If it feels like law firms are the onlyorganizations taking new office spacein Washington, D.C., these days, you re not alone, reader. Swiss investment bankUBSowns the property, records show. Transwestern Real Estate ServicesExecutive Vice PresidentRich Laneand Vice PresidentTyler Marshallrepresented the firm in its move to the new space from its former digs at700 13th Street NW, about four blocks south of its new offices. Avison Young sEli Barnes,Greg TomassoandLauryn Harrisrepresented the building owner. The decision to relocate was driven by the firm s desire to both rightsize and elevate its office space and capitalize on current market conditions by negotiating favorable terms with top concessions, Marshall said in a statement. Hyman, Phelps  McNamara s new lease follows a string of similar deals in the District, andaround the country for that matter, as law firms vie for quality office space. Cozen O Connor is taking over the space fromOrrickformerly known as Orrick, Herrington  Sutcliffe, which itself recently relocated to2100 Pennsylvania Avenue NWafter merging with fellow law firmBuckley. Meanwhile,Williams  Connollyin Februaryadded over 25,000 square feetto its headquarters atThe Wharfoffice complex in Southwest D.C., bringing its total footprint there to over 313,000 square feet. Nick Trombola can be reached atNTrombolacommercialobserver.com. Read the latest edition of theCommercial Observeronline!
Law firms dominate new office space leasing in Washington, D.C. UBS moved its offices, seeking to optimize space and secure favorable terms. Hyman, Phelps & McNamara's relocation is part of a trend in the district, with other firms like Cozen O'Connor and Williams & Connolly also expanding their footprint.