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PHILADELPHIA–The law firm Cozen O’Connor will move its Philadelphia headquarters to the Center City landmark One Liberty Place, taking nine floors it plans to retrofit and occupy by spring of 2015.
Located nearby at 1900 Market Street for the past 31 years, the firm has signed a lease for 200,000 square feet at One Liberty Place to create its “headquarters of the future,” Cozen O’Connor’s Jeffrey A. Leonard tells GlobeSt.com.
The law firm Reed Smith currently occupies most of the space, which includes floors 21-28 and all or part of the 7th floor. Reed Smith it is moving in spring 2014 to 1717 Arch St. At that point, Cozen O’Connor’s 17-year lease takes effect and the firm will build out its new office.
“We will design the space for the future,” says Leonard, who is a director of the firm and co-chair of its Real Estate Practice Group. Leonard and colleague Adam M. Silverman negotiated the lease with landlord Metropolis Investment Holdings. “The new headquarters is a clean slate. It will be equipped with state-of the-art technology, more impromptu meeting areas and common offices, and we expect to adhere to the modern trend of uniform office sizes.”
Cozen O’Connor currently has 215 attorneys and 350 staff members in its Philadelphia office. Ranked among the 100 largest law firms in the country, Cozen O’Connor has a total of 575 attorneys working in 21 offices on two continents.
“We are extremely pleased to be moving to one of the premier buildings in Center City,” says the firm’s CEO Thomas A. Decker in a statement. “The iconic design of One Liberty Place is one of the most recognizable parts of Philadelphia’s skyline.”
Leonard noted that the firm had a few options for new space, and while he did not disclose terms, Leonard acknowledged that Center City rents have not significantly budged in more than 20 years.
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