Association of Tenant Representatives News Article
AKIN GUMP STRAUSS HAUER & FELD LLP SIGNS 290,000 SF
10-YEAR RENEWAL AT 1333 NEW HAMPSHIRE AVENUE, NW
Washington, DC – Akin Gump Strauss Hauer & Feld LLP, one of the world’s leading law firms, today announced it has signed a long-term renewal of its 290,000 square foot lease with Boston Properties at 1333 New Hampshire Avenue, NW. The transaction is believed to be one of the largest private sector transactions in Washington so far this year.
Akin Gump will continue to lease the entire office portion of the building under the ten-year extension. The building underwent major renovations in 1999 and 2000, and additional building upgrades are planned as part of the renewal.
Bruce McLean, Chairman of Akin Gump, said “We opened our DC office more than 30 years ago with only two attorneys. Now we have close to 300 attorneys in our New Hampshire Avenue office. We are proud to continue to grow and thrive in the Robert S. Strauss building in the heart of our nation's capital”.
Raymond Ritchey, Executive Vice President at Boston Properties, added, “We are pleased and honored to have our relationship with Akin Gump continue for many years to come. From a professional perspective, we have great admiration and respect for Akin Gump and the status the firm has attained as one of the most accomplished law firms in the world. We are pleased that Akin Gump has put their trust in Boston Properties and 1333 New Hampshire Avenue to facilitate Akins’s operational objectives and provide their attorneys and staff a working environment consistent with the image and reputation of the firm”.
Akin Gump was represented in the site selection and negotiation process by Eric Berson, Chairman of Washington Realty Group, Inc. and founding member of ATR (the alliance of Tenant Representatives). Mr. Berson said, “After completing a competitive process, renewing at 1333 New Hampshire Avenue ultimately made sense for Akin Gump from both a financial and operational standpoint. Once the decision was made to renew, the negotiations were handled in a very expeditious and collaborative way in order to create a win-win transaction.”
About Akin Gump
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, is a leading international law firm; numbers more than 900 lawyers with offices in Austin, Brussels, Dallas, Houston, London, Los Angeles, Moscow, New York, Philadelphia, Riyadh (affiliate), San Antonio, San Francisco, Taipei and Washington, DC. The firm has a diversified practice and represents regional, national and international clients in a wide range of areas including antitrust, appellate, banking and finance, capital markets, communications and information technology, corporate and securities, corporate governance, employee benefits, energy, entertainment and media, environment, estate planning, wealth transfer and probate, financial restructuring, global security, government contracts, health, insurance, intellectual property, international trade, investment funds, labor and employment, land use, litigation, mergers and acquisitions, private equity, privatization, project development and finance, public law and policy, real estate development and finance, Russia/CIS, tax, and technology.
About Boston Properties
Boston Properties, a self-administered and self-managed real estate investment trust, is one of the largest owners, managers, and developers of first-class office properties in the United States, with a significant presence in four core markets: Boston, Washington, D.C., Midtown Manhattan and San Francisco. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, where it maintains its headquarters. Boston Properties became a public company in June 1997. The Company acquires, develops, and manages its properties through full-service regional offices in Boston, New York City, Washington, D.C., San Francisco, and Princeton, New Jersey. Its property portfolio is comprised primarily of first-class office space and also includes three hotels and one industrial building. Boston Properties is well-known for its in-house building management expertise and responsiveness to tenants' needs. The Company has a superior track record in developing Class-A, Central Business District office buildings, suburban office centers and build-to-suit projects for the U.S. Government and a diverse array of high-credit tenants. Visit them at www.bostonproperties.com.
For More Information,
Washington Realty Group