Search
 

GlobeSt.com EXCLUSIVE: Law Firm Inks 105,000-SF Renewal

NEW YORK CITY-Arnold & Porter renews for 15 years at 399 Park Ave. The deal includes an option that will enable the firm to lease an additional 50,000 sf during the term of the deal.

By Barbara Jarvie | Updated on March 19, 2005

NEW YORK CITY-Law firm Arnold & Porter has signed a 15-year renewal for 105,000 sf at 399 Park Ave., which has been its home since 1990. The deal also includes an option for the firm to lease an additional 50,000 sf during the term.

The firm will continue to occupy the 33rd, 34th, 35th and 36th floors of the 1.5- million-sf, 39-story building, which is owned by Boston Properties. Studley negotiated the lease for the firm. Studley represented Arnold & Porter in its original lease at the site and also handles the firm’s real estate needs across the country. The firm’s CEO and chairman Mitch Steir, along with executive managing director Howard Nottingham, executive vice president Matthew Barlow and senior managing director John Mambrino represented the firm. John Powers of CB Richard Ellis handled the transaction on behalf of the owner. Attorney Stewart Offner of Mintz Levin handled legal negotiations on behalf of Boston Properties, while Arnold & Porter was represented in-house by Jennifer Perkins.

Steir notes that the deal fits with the firm’s long-term growth projections. “It was important that we were able to lock in future contiguous expansion options with attractive economics.” The financial arrangements were not released; however, no direct lease space is currently available in the site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.