Phillips, Spallas & Fotouhi specializes in civil litigation defense work throughout California and Nevada with offices in San Francisco, San Luis Obispo, Fresno and Las Vegas. The firm is subleasing the space from the investment bank Jefferies & Co.

Christopher Roeder, the Director with Cushman & Wakefield who represented the law firm tells GlobeSt.com it was looking to expand and upgrade with as little out-of-pocket expenses as possible. "They were looking at a very specific group of buildings that appealed to the partners, and the (Jefferies & Co.) space was in perfect condition for a law firm," says Roeder. "They just needed to make some changes to the finishes and the reception area."

Roeder declined to provide the specifics of the transaction, but local brokers familiar with the lease say the law firm will be paying an average rate of about $25 per sf per year including several months of free rent to offset the time remaining on their existing lease. The rate is between 20% and 30% lower than space being marketed directly by the building owner, the Phoenix-based Pivotal Group. The term of the sublease is about five-and-a-half years.