Law Firm Hyman, Phelps & McNamara Inks 19K-SF Relocation Lease in D.C.
By Nick Trombola July 10, 2024 2:15 pm
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If it feels like law firms are the only organizations taking new office space in Washington, D.C., these days, you’re not alone, reader.
Here’s another for the books: After 20 years at its previous home in the District, the firm of Hyman, Phelps & McNamara has relocated its headquarters to 1101 K Street NW, taking 19,194 square feet at the newly renovated, 10-story building. Swiss investment bank UBS owns the property, records show.
Transwestern Real Estate Services Executive Vice President Rich Lane and Vice President Tyler Marshall represented the firm in its move to the new space from its former digs at 700 13th Street NW, about four blocks south of its new offices.
Avison Young’s Eli Barnes, Greg Tomasso and Lauryn Harris represented 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, and around the country for that matter, as law firms vie for quality office space.
Philadelphia-based firm Cozen O’Connor at the end of June signed on for 65,576 square feet at 2001 M Street NW, relocating from its former D.C. home at 1200 19th Street NW. Cozen O’Connor is taking over the space from Orrick (formerly known as Orrick, Herrington & Sutcliffe), which itself recently relocated to 2100 Pennsylvania Avenue NW after merging with fellow law firm Buckley.
Meanwhile, Williams & Connolly in February added over 25,000 square feet to its headquarters at The Wharf office complex in Southwest D.C., bringing its total footprint there to over 313,000 square feet.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
