Law Firm Expands by 75,000 SF

WASHINGTON, DC-In an effort to lock in a good deal, Foley & Lardner LLP decided to renew its current 15-year lease at the premiere 537,000-sf Washington Harbour office complex in tony Georgetown well before the scheduled expiration date in 2008. The law firm’s current 125,000-sf digs in the Broadway Real Estate Partners-owned site will expand to 200,000 sf under a new 15-year lease. Foley & Lardner’s space is on the top four floors of one of the buildings; the firm has rights for expansion on other floors.

The arrangement was orchestrated by representative Jones Lang LaSalle and will begin four years from now. Financial terms of the lease have not been disclosed; however, space at class A properties in Georgetown goes for an average $36 per sf, according to Advantis Real Estate Services Co.’s Office Market Monthly Survey for August.