Morgan Lewis Plans Move to New Phila. Tower
The law firm's new location, set to open in 2023, is the first non-Comcast building in Philadelphia's central business district in 30 years.
January 21, 2020 at 03:12 PM
4 minute read
Philadelphia-founded Morgan, Lewis & Bockius has grown into an international powerhouse, reaching the top 10 of the Am Law 100. But if a new lease on a bespoke office building is any indication, the law firm still sees its home city as a place worth investing. The firm has inked a deal with real estate company Parkway Corp. to move into a new office tower at 2222 Market St. in Philadelphia. Morgan Lewis will be the sole tenant in the 19-story, 305,000-square-foot building, which Parkway said will be ready for occupancy in 2023. According to Parkway, the new tower will be the first commercial office building in Philadelphia's central business district in over 30 years that is not a Comcast building. The firm worked closely with Parkway and architectural firm Gensler to design the custom building to fit its needs, Parkway's announcement said. That includes floor-to-ceiling glass throughout the property, multiple outdoor terraces, flexible workspaces, a fitness center and a conference center. It's no secret that Morgan Lewis has been eyeing up new space in its hometown. Local news outlets have reported on its discussions with developers in the city, and its plans not to renew a lease at 1701 Market St., where it is also the sole tenant and has been leasing space for more than 20 years. Morgan Lewis Philadelphia office managing partner Sarah Bouchard said "a long, thoughtful process" resulted in the decision to move from 1701 to a different location. She said the space would have needed significant technological and other upgrades in order for the firm to stay there, and those changes would have caused displacement of lawyers and staff. The opportunity to create a new, customized single-tenant space with Parkway was a draw, she said. "We're delighted in how collaborative we've been able to be with Parkway on the design, for us to really build a space that looks to the future, and looks to the future of what practicing law will be in the next 10 to 15 to 20 years," Bouchard said. She noted that the firm has also worked with interior architects at HYL Architecture, and has professionals in-house at Morgan Lewis dedicated to overseeing the firm's real estate. Partners were also involved in discussions throughout the decision-making process, she said. "We wanted to really have a space that would be a destination for our clients as well as recruiting for the future," Bouchard said. The new location at 2222 Market was attractive because of recent development in that part of the city, she said. Within recent years, Aramark opened its new headquarters at 2400 Market; the exclusive Philadelphia Fitler Club opened at 2400 Market; and Vanguard set up an innovation center at 2300 Chestnut. Additionally, she said, the new building will be an eight-minute walk from the train platform at 30th Street Station, and close to a trolley stop at 21st and Market. Other features of the new space—which have been popular upgrades to other Big Law offices nationally—are same-size offices, collaborative spaces on each floor, alternate work environments including a coffee shop and event spaces. Bouchard said some of those features contribute to a goal of making the space amenable to better mental health, by encouraging lawyers to seek out alternative and communal work spaces rather than staying isolated in an office all day. The current building at 1701 Market is not Morgan Lewis' only office space in the city. It also has about 400 people at 1801 Market, where the firm's lease does not expire until later. Morgan Lewis hasn't decided on what to do about that space when the lease is up, Bouchard said. While the 2222 Market building is large enough for all the 1701 employees "and some growth," she said, it's not large enough to also house all the 1801 professionals. The firm has a total of about 1,340 employees in its two existing Philadelphia offices. While the firm's lawyer head count is higher in Washington, D.C., the Philadelphia office is probably the firm's largest when including all staff and lawyers combined, Bouchard said.
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