McDermott Will & Emery‘s announcement that it had signed a letter of intent to move its Washington office to 500 North Capitol St. marked one of the largest private-sector real estate deals of 2010. According to sources with knowledge of the deal, McDermott’s 15-year lease is for 165,000 square feet and the firm will pay in the range of $65 per square foot — meaning about $10.7 million each year. The deal is with Clark Enterprises and Boston Properties and includes an option to take on even more space if needed.
Bobby Burchfield, co-managing partner of McDermott’s Washington office, said the firm was attracted to the idea of “being able to brand the building as ‘The McDermott Building.’ ”
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