Law Firm to Move into Newly Constructed 90,000 Square-Foot
Space at Carroll Square by 2007
New York, NY, January 10, 2005 – LAWFUEL – The Law News Network – Dewey Ballantine LLP, an international law firm, announced today that it has signed a 15-year lease for 90,156 square feet at 975 F Street, N.W. (known as Carroll Square) in Washington, D.C.
The firm will move from its current location at 1775 Pennsylvania Avenue N.W.
into the newly-constructed building by January 2007. As the buildings anchor
tenant, Dewey Ballantine will have the opportunity to place its branding on the
exterior of the building. Real estate brokerage firms Byrnam Wood, LLC, based in
New York City, and West, Lane & Schlager ONCOR International, based in
Washington, D.C., negotiated the transaction on behalf of Dewey Ballantine.
Dewey Ballantine has pre-leased a portion of the first floor and the entire
concourse, second and sixth through ninth floors of Carroll Square. Located
adjacent to St. Patricks Church in the heart of Washingtons prime East End
submarket, the 160,000-square-foot premier building will preserve the existing
facades of several historic row houses as part of the development of the overall
project.
The firms presence in Washington, D.C. has continually grown since the
office first opened in the early 1970s said Alan Wolff, International Trade
Group head and managing partner of Dewey Ballantines Washington, D.C. office.
As we continue to expand our practices, which include tax, international trade,
energy and intellectual property, and hire attorneys to service our global clients,
the new office space will provide the infrastructure to achieve these goals. Both
Byrnam Wood and West, Lane & Schlager provided exceptional service throughout the lease negotiation process. They were responsive and attentive to our requirements and exhibited flexibility with regards to the lease agreement
terms.
Throughout the past two years, Dewey Ballantine has also constructed new office
space in East Palo Alto, Austin, London, Milan, Rome and Frankfurt.
Joseph Thanhauser, chairman of Byrnam Wood said, This lease is unique in that it provides Dewey Ballantine with tight control of occupancy costs and excellent
flexibility with respect to space requirements over the long term.
According to Richard Lane, a principal at West, Lane & Schlager and its law
firm specialist, “We are extremely pleased with both the overall financial package
and the expansion capabilities afforded to Dewey Ballantine in this lease,
especially given Washington, D.Cs current competitive market environment in
which large blocks of contiguous, Class-A space are extremely limited.”
In addition to negotiating the 15-year lease for Dewey Ballantine, the brokerage
team provided extensive preliminary market analysis; conducted an extensive search
of the entire downtown Washington, D.C. marketplace; performed comprehensive
financial analysis; and negotiated the letter of intent and lease.
About Dewey Ballantine
Dewey Ballantine LLP, founded in 1909, is an international law firm with more than 550 attorneys and locations in New
York, Washington, D.C., Los Angeles, East Palo Alto, Houston, Austin, London,
Warsaw, Frankfurt, Milan, Rome and an associated office in Prague. Through its
network of offices, the firm handles some of the largest, most complex corporate
transactions, litigation and tax matters in areas such as M&A, private equity,
project finance, corporate finance, corporate reorganization and bankruptcy,
antitrust, intellectual property, sports law, structured finance and international
trade. Industry specializations include energy and utilities, healthcare,
insurance, financial services, media, consumer and industrial goods, consumer
electronics, technology, telecommunications and transportation.
About Byrnam-Wood
New York-based Byrnam Wood, LLC is a
global real estate services firm and a seven-time winner of the Real Estate Board of
New York’s annual "Ingenious Deal of the Year" award.
About West, Lane & Schlager Realty Advisors
Founded in 1996, West, Lane & Schlager Realty Advisors, L.L.C., is a full-service
commercial real estate brokerage firm. The independently owned company provides
tenant services, landlord services, investment services, and project management; and
specializes in the representation of law firms, not-for-profit organizations, and
local corporations. With ten brokers and annual sales over $160 million, West,
Lane & Schlager ranks among the top brokerage firms in the Washington, D.C.,
metro area, according to the Washington Business Journal.
