The law firm of Skadden, Arps, Slate. Meagher & Flom LLP has signed a 15-year lease renewal and expansion agreement for 213,674 sq. ft. at the Commercial National Bank Building in Washington, D.C. The building is owned by New York-based Tishman Speyer, which owns, manages and leases more than 11 million sq. ft. of high-quality office buildings in the region.
The lease announced today was executed in conjunction with Skadden’s simultaneous renewal and expansion agreement for 200,957 sq. ft. at 1440 New York Avenue, NW, which is owned by ING Clarion and directly connected to the Commercial National Bank Building.
Tishman Speyer’s transaction with Skadden is the district’s largest private sector lease signed this year, and the combined set of transactions represents one of the largest such lease deals in recent memory.
Skadden was represented in the transaction by Andrea Reid of Axis Realty Advisors, LLC and Elizabeth Cooper, Thomas Doughty, Philip Leibow and Greg McCavera of Jones Lang LaSalle. Dan Dooley and Scott Franklin of Tishman Speyer represented the building’s ownership.
Serving clients in every major international financial center, Skadden, Arps, Slate, Meagher & Flom LLP has 24 offices globally and approximately 2,000 attorneys.
Skadden represents a broad spectrum of clients, including approximately 50% of the Fortune 250 industrial and service corporations, as well as financial and governmental entities, small high-technology start-up companies, and cultural, educational and charitable institutions.
At 224,873 sq. ft., The Commercial National Bank Building is a Class-A property that is listed on the National Register of Historic Places. It is comprised of two separate but interconnected buildings — the historic structure at 700 14th Street and the newer 1420 New York Avenue building.
Located in the East End submarket just one and a half blocks east of the White House, the property faces three streets — 14th Street, G Street and New York Avenue — and the location offers easy access to the Metro Center Metro station and many popular restaurants and hotels.