Akin Gump Strauss Hauer & Feld\u00a0LLP has officially signed on as anchor tenant at Alexander Court, the multimillion-dollar renovation and combination of two downtown D.C. office buildings,\u00a0after months of speculation of a deal in the works.<\/p>\n
The law firm’s D.C. office, with more than 230 local lawyers, is now based at 1333 New Hampshire Ave. NW. It has signed a 17-year lease for 185,000 square feet at 2001 K St. NW and is slated to move in 2019. The lease is a significant win for Rockrose Development Corp. and Spitzer Enterprises, who cast their lots together more than two years ago\u00a0to combine 2001 K St. NW and 2000 L St. NW to create Alexander Court.<\/p>\n
The firm is shrinking its footprint from about 240,000 square feet in its current space. The terms were not disclosed. Rockrose and Spitzer were seeking a triple-net asking rent in the high $50-per-square-foot range. Triple net leases do not include insurance and other operating expenses.<\/p>\n
“Akin Gump’s Washington office opened nearly half a century ago and grew to become not only the firm’s largest office but also a Washington institution,” Akin Gump Chairperson\u00a0Kim Koopersmith\u00a0said in a statement. “This move ensures that we will remain a fixture in our nation’s capital for many years to come.”<\/p>\n
Akin Gump is moving into the top four floors of Alexander Court’s North Building and will have its own dedicated reception area as part of the building’s three-story lobby, the law firm said. The firm considered a handful of alternate locations, including new construction elsewhere in the District, before settling on Alexander Court, Akin Gump Partner-in-charge\u00a0Tony Pierce\u00a0said in an interview.<\/p>\n
Moving to Maryland or Virginia isn’t something the firm seriously considered, Pierce said. Akin Gump would have preferred to stay at 1333 New Hampshire Ave. if that had been a realistic option, he added. It no longer was given changes in how the firm uses space, including eliminating areas the firm set aside for its law library and secretarial pools.<\/p>\n
“The space that we’re in is not efficient \u2014 a wonderful location, but just not an efficient space,” he said.<\/p>\n
The combined Alexander Court, designed by Pelli Clarke Pelli Architects, will feature a 12-story atrium connecting the two buildings, a landscaped rooftop terrace, lobby coffee and wine bar, and on-site child care.<\/p>\n
CBRE represented Akin Gump in the lease, and Avison Young represented Alexander Court.<\/p>","protected":false},"excerpt":{"rendered":"
Akin Gump Strauss Hauer & Feld\u00a0LLP has officially signed on as anchor tenant at Alexander Court, the multimillion-dollar renovation and combination of two downtown D.C. office buildings,\u00a0after months of speculation of a deal in the works. The law firm’s D.C. office, with more than 230 local lawyers, is now based at 1333 New Hampshire Ave. […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1990","post","type-post","status-publish","format-standard","hentry","category-news-press"],"acf":[],"yoast_head":"\n