WASHINGTON DC – Law firm, Wiley Rein LLP has signed a 166,000-square-foot lease at Tishman Speyer's new trophy office property, 2050 M St. in Washington DC.
Wiley Rein will relocate its headquarters to occupy five floors of the 11-story building. According to CBRE, the transaction serves as the DC market's largest relocation deal of 2020.
Designed by architect, Joshua Prince-Ramus of REX, the 340,000-square-foot, 2050 M St. project features design elements new to the district, including floor-to-ceiling curved glass exterior.
Developed on a site comprising CBS's existing Washington DC bureau location, the property constructed a separate entrance and new state-of-the-art facilities for CBS.
The building is now 81% leased.
CBRE's Lou Christopher, Jordan Brainard, Tim Dempsey and Greg Maurer-Hollaender represented Wiley Rein in the lease transaction.
"The addition of Wiley, a world-class law firm, to our Washington DC portfolio is great news, especially considering the recent business challenges created by the pandemic. We have a very positive long-term view of the DC office market and we are optimistic that this transaction will signal the return of robust activity again," commented Rob Speyer, Tishman Speyer's president & CEO.
Speyer continued, "As a developer, we have seen increased demand during the past several years for work environments that are more than just pleasant places to sit at a desk. In DC and in other major markets, we have been able to offer a compelling proposition that includes outstanding architectural designs, strategic locations, building features that support innovative and creative work areas, and a wide range of popular amenities and lifestyle enhancements through our ZO program. 2050 M Street is a place that embodies all of those elements."
Wiley Rein managing partner, Peter D. Shields said, "We look forward to calling 2050 M Street Wiley's new home. Our single-office model unites our firm in ways highly beneficial to our clients and our culture. This unique space will provide greater opportunities for collaboration and connection throughout the firm, which has been an integral key to our success."
2050 M St. in Washington DC.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
