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Financial District Tower’s Largest Tenant Signs Extension

By Steve Adams | Banker & Tradesman Staff | Oct 5, 2018 | Reprints | Unlock Link

| Print

Law firm Morgan, Lewis & Bockius has extended its lease for over 200,000 square feet at One Federal St. in Boston, a 1.1-million-square-story office tower owned by Tishman Speyer.

The notice of lease extension states that Morgan Lewis will occupy 202,842 square feet on eight floors through 2035. Morgan Lewis declined to comment on the transaction or its current employee count in Boston. Its website says the firm has “close to 200” lawyers in Boston.

Morgan Lewis initially leased 318,000 square feet in 2008 but has since subleased several floors, according to a real estate industry source. Many law firms have downsized their office space footprints in recent years amid shrinking requirements for administrative space and law libraries.

Tishman Speyer placed the property on the market in 2016, when it was 98 percent occupied, according to a report by Real Estate Alert. The report cited a potential sales price of $750 million, but ownership later pulled the property off the market.

B&T Daily