Patton Boggs Renews Lease at 2550 M Street
Lease extension ensures firm will remain cornerstone of District's West End; Planned improvements reflect firm's investment in Patton Boggs professionals and staff
WASHINGTON, Jan. 3, 2013 /PRNewswire/ -- Patton Boggs LLP is pleased to announce a 15-year renewal of the lease that the firm currently holds on the office building located at 2550 M Street, NW, in the heart of the city's West End business district. J. Yost Conner provided internal real estate counsel, and Kurt Richter and Art Santry of Cassidy Turley represented Patton Boggs in the transaction.
In conjunction with the lease renewal, Patton Boggs has laid out an ambitious plan to revitalize the space at 2550 M Street. The architectural firm of Lehman Smith McLeish, a strategic partner with Patton Boggs for more than 15 years and widely acknowledged for its interior design work for leading law firms, has been engaged for the multi-phase project that will commence in fall 2013.
Patton Boggs has strong ties to the 2550 M Street location, having occupied the 206,000 square foot building since 1978. The firm was among the building's original tenants and is now the building's sole occupant. Patton Boggs, which celebrated its 50th anniversary in 2012, has played a key role in matters of national and international importance while occupying the space during the last 34 years, such as the $1.5 billion federal loan guarantee of Chrysler in 1979, the largest such federal loan to date; the debates that lead to the formation of the Telecommunications Act of 1996; and overwhelming Congressional passage of the Korea-United States Free Trade Agreement in 2011.
"For more than three decades, 2550 M Street has been the home of the Patton Boggs Washington office," said Edward J. Newberry, managing partner of Patton Boggs. "We have a tremendous history in this building, and it is difficult to imagine our flagship office being anywhere else. We are thrilled to recommit to the city's vibrant West End, and our improvements will enable current – and future – generations of Patton Boggs professionals to gain the full benefits of contemporary workspace design."
Preliminary plans for the renovation include floor plans designed to add additional offices, optimize use of space, and fully utilize and expand available sources of natural light. Accessible communal work spaces on each floor will enhance team productivity, and building updates will support key standards and protocols in all areas of technology.
"With this real estate solution, Patton Boggs has the opportunity to implement new strategies for the workplace - providing ultimate flexibility for the business to grow and change," said James Black McLeish III of Lehman Smith McLeish. "The updated practice floors will provide a dynamic and flexible environment, supporting an increasingly mobile, technology-driven and collaborative work process," he added.
Another key aspect of building modernization involves environmental considerations, which will inform design decisions at every juncture. Energy savings will be accomplished through implementation of "Smart" capabilities, as well as incorporating LEED (Leadership in Energy and Environmental Design) standards, as determined by the United States Green Building Council (USGBC).
"After thoroughly reviewing the market, we determined that renewing at 2550 M Street provided the best solution to meet Patton Boggs' locational, economic and future growth needs," commented Mr. Santry, senior managing director and principal with Cassidy Turley. "Our Project and Development Services team, led by Dale Martin, will oversee the renovation of the firm's space, which will be completed in the next two years. We are thrilled to continue our long-standing relationship with Patton Boggs, and to help them achieve a forward-looking workspace that fits the future of the firm," he continued.
About Patton Boggs
Patton Boggs is a leader in public policy, litigation and business law, and is well known for deep bipartisan roots in the political arena. The firm's core practice areas are government relations and lobbying, administrative and regulatory, commercial and transactional, litigation and dispute resolution, intellectual property and international law.
From offices in Washington, D.C., New York, New Jersey, Dallas, Denver and Anchorage; and internationally in Doha, Riyadh, and Abu Dhabi, more than 550 lawyers and professionals provide comprehensive, practical and cost-effective legal counsel to clients around the globe. For more information about the firm or its attorneys, visit www.pattonboggs.com.
SOURCE Patton Boggs LLP
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