Shrinking Offices at Morgan Lewis and Skadden Arps
Summary: Two firms in Washington D.C. are reducing their office space footprints by looking for tenants to take over substantial amounts of their leased spaces.
Two Washington law firms are downsizing their numbers. Morgan, Lewis & Bockius is attempting to drop the former Bingham McCutchen offices located in Washington D.C. by next summer. The lawyers still working in the office will move to the Pennsylvania Ave office if the firm can find someone to take over the lease of the building at 2020 K Street.
Skadden, Arps, Slate, Meagher & Flom is also looking to remove office space from its control. The firm wants to cut back by around 100,000 square feet in Washington D.C. beginning in June 2017. Currently their office space is around 400,000 square feet in two buildings close to the White House. They recently renewed their lease for another decade. They hope to find someone to sublease from them.
Jones Lang LaSalle Inc. is the acting broker for both firms as they search for tenants.
Law firms have been taking a hard look at how they use their office spaces, sometimes renovating or moving lawyers around to better utilize space. After Morgan Lewis took over Bingham McCutchen two years ago, they kept the building but moved things around. They already rent out space in the K Street building to other businesses including Carr Maloney, a small regional law firm.