The deal was worth $14 million, according to an industry source, and it starts Dec. 1, when the international law firm will occupy one-third of the 75,000-sf building, taking the entire fourth and part of the third floors.
McDermott was represented by Michael Labelle, senior managing director, and Christina Skwat, associate director, in Studley's San Diego office.The firm had been occupying about 15,000 sf in the La Jolla-UTC submarket, but "they need more space," Labelle says. "They also moved to increase their visibility, to be closer to their core group of clientele. Virtually every major firm in San Diego has a presence in the Del Mar Heights Torrey Hills area."
The four-story class A office building McDermot moved into is owned by American assets. CB Richard Ellis senior vice president Dick Balestri represented the landlord Pacific North Court Holdings LP. Labelle declined to discuss the price of the lease, only saying, "They gave incentives." Balestri couldn't be immediately reached for comment.
McDermott Will & Emery employs over 1,100 lawyers, with offices in Boston, Brussels, Chicago, Dsseldorf, Houston, London, Los Angeles, Miami, Munich, New York, Orange County, Rome, San Diego, Silicon Valley and Washington DC.
The firm is ranked 16th on The American Lawyer's 2007 AmLaw 100, with gross revenue of $860 million in 2005. The firm has been in the top 50 of the AmLaw 100 since 1986.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
