Law Firm on the Lookout for New Digs in the District

WASHINGTON, DC-Real estate services firm Jones Lang LaSalle has come on board to give a helping hand to alliance partner Foley & Lardner in the law firm’s search for office space alternatives in the District. To date, Foley & Lardner employees make their home in 123,000 sf at the Washington Harbour complex, and 64,000 sf in Georgetown’s Foundry Building. If the partners are on the lookout for Class A buildings, such office space in the city–where the vacancy level is at a low 5.5%–leases for an average $41.50 per sf, according to Advantis Real Estate Services Mid-Year 2003 Office Report.

“A growing trend is that forward-thinking law firms such as Foley & Lardner are increasingly exploring all viable lease alternatives several years prior to their expiration dates to identify the best options the marketplace has to offer,” Jones Lang LaSalle Washington Office executive vice president Philip Leibow explains. Foley & Lardner’s lease at Washington Harbour will expire in 2008, while the contract at the Foundry will reach its end in 2010. “We are currently exploring all available alternatives in Washington, DC that satisfy Foley & Lardner’s occupancy requirements.”