Law Firm to Co-Anchor New 383,000-SF Building

WASHINGTON, DC-In a leasehold acquisition deal of nearly 118,500 sf, law firm O’Melveny & Myers has signed on to be the second anchor tenant in what will be a 383,000-sf office building at 1625 Eye Street. The group of about 150 attorneys joins fellow anchor ULLICO Inc. whose subsidiary, The Union Labor Life Insurance Company, is financing the construction of the state-of-the-art building. Completion of the class A, 12-story structure is scheduled for next year and O’Melveny intends relocate from its space at 555 13th Street in mid-2003.

“O’Melveny is rapidly stepping up in Washington to meet the changing needs of our clients,” the firm’s DC office head John Beisner says. O’Melveny boasts a domestic and international clientele. Beisner adds that the move, “reinforces the firm’s commitment to our country’s capital where politics, business and law often converge.” The terms of O’Melveny’s agreement are not being released. However, Joe Michel of Trammell Crow, which is the developer behind the project, tells GlobeSt.com that leasing rates for the building range from $45 to $54-per-sf.