WASHINGTON, DC-Vornado/Charles E. Smith has convinced the DC law firm Sidley Austin to renew and expand its significant offices at 1501 K St. NW and has reportedly won the bidding for the US Fish & Wildlife Services' headquarters.
Sidley Austin, which had been courted by many property owners in the region, decided to renew and slightly expand its 289,000-square-foot lease at 1501 K St. NW through 2031. Vornado/Charles E. Smith, a division of New York City-based REIT, Vornado, is a 5% owner in the building that it manages for majority owner JP Morgan, according to the Washington Post.
“In a market where law firms are shrinking and generally moving into new spaces, Sidley will use swing space in our building while they renovate in place to make the space work better for them now and well into the future,” said Mitchell N. Schear, president of Vornado/Charles E. Smith, in an investors call.
Schear reports that he expects his firm to finalize a lease very shortly that would involve the relocation of the U.S. Fish & Wildlife Service's headquarters from Ballston to its Skyline Technology Center building in Falls Church. The agency would relocate its operations in mid-2014. A spokesman for the General Services Administration says the agency had not technically approved a lease deal as yet. See story in the Washington Post.
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