Baker, Pillsbury Ink New Office Leases on Opposite Coasts
November 11, 2011
By: Sara Randazzo

Bucking a 2011 trend that has seen most law firms with expiring leases renew rather than relocate, both Baker & McKenzie and Pillsbury Winthrop Shaw Pittman are taking over more than 100,000 square feet of space at new addresses in key cities. ...

... Mitchell Steir, chairman and CEO of commercial real estate services firm Studley, worked with Baker on identifying the space and negotiating the lease. Steir says the search began about 15 months ago. While Baker didn't necessarily set out to move from its current New York home at 1114 Avenue of the Americas, Steir says that favorable deal terms—which he declined to detail—drew the the firm to the new location. Steir says he expects the firm to move in by the fourth quarter of 2012 after remodeling the space. ...

... "Everything is trending towards greater efficiencies," says Steir, pointing to higher lawyer-to-secretary ratios, smaller libraries, and more flexible use of interior space. ...

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