Law Firm Signs for 166K SF at Tishman’s New DC Trophy
By Keith Loria June 15, 2020 11:57 amreprints
Wiley Rein LLP has signed a 166,000-square-foot lease at 2050 M Street, a newly delivered 340,000-square-foot trophy office building in Washington, D.C., according to landlord Tishman Speyer.
The law firm will occupy floors three through seven of the 11-story building when it moves from 1776 K Street NW in January of 2022. No other terms of the lease were disclosed.
“The building met and exceeded all of the criteria we had for a new space,” Peter Shields, Wiley’s managing partner, told Commercial Observer. “Its amenities, central location, and architectural details set it apart for us, providing our employees with a unique, beautiful and collaborative space to work.”
According to CBRE (CBRE), which represented the tenant in the deal, this is the largest relocation in D.C. this year.
“As a Washingtonian, it was an honor to represent one of D.C.’s largest local law firms,” Lou Christopher, CBRE’s vice chairman, told CO. “For the past three years, our CBRE team worked closely with Wiley to identify a real estate solution that would align their culture with their workplace. 2050 M Street’s world-class architecture, design elements, and amenities complement Wiley’s vision for its future headquarters.”
Designed by Joshua Prince-Ramus of REX, 2050 M Street was constructed on an assemblage that consisted of the existing site of CBS’s Washington D.C. bureau. Its design includes floor-to-ceiling curved glass on the exterior and no perimeter columns or vertical mullions.
Wiley’s move to consolidate its current offices into a single-office model will better unite the firm, providing a boost to its clients and culture, Shields said.
“This unique space will provide greater opportunities for collaboration and connection throughout the firm, which has been an integral key to our success,” he said.
The building is currently 81 percent leased.
“The addition of Wiley, a world-class law firm, to our Washington D.C. portfolio is great news, especially considering the recent business challenges created by the pandemic,” Rob Speyer, Tishman Speyer’s president & CEO, said in prepared remarks. “We have a very positive long-term view of the D.C. office market and we are optimistic that this transaction will signal the return of robust activity again.”
Joining Christopher in representing the tenant were CBRE’s Jordan Brainard, Tim Dempsey and Greg Maurer-Hollaender.