A global law firm signed a lease to occupy space at a forthcoming building in downtown Washington, D.C., one of just a handful of office buildings in the market’s construction pipeline.
Late last year, McDermott Will & Emery committed to a lease for 150,000 square feet across the top five floors of the to-be-built tower planned at 725 12th St. NW. The legal group expects to move into the 12-story building upon the project's completion in 2028.
BXP plans to break ground later this year on the 320,000-square-foot trophy building that would replace the existing 12-story property that it plans to raze at the same address. The real estate investment trust acquired the property for $34 million at the end of 2024 from a joint venture between Hines and Swift Creek Partners, CoStar News reported.
The new building would become one of only roughly a dozen office buildings under construction in the Washington metropolitan area, according to CoStar market analytics.
Grabbing the law firm lease, while simultaneously coordinating the property acquisition, demolition and redevelopment, earned the deal a 2025 CoStar Impact Award for lease of the year in the Washington, D.C., area, as judged by real estate professionals familiar with the market.
The deal fits into shifting dynamics in Washington, as CoStar News reports of a gradual office recovery taking hold in the nation's capital. Return to office patterns have created a sense of optimism among some landlords as demand for office space, though still crossing paths with hybrid work and economic uncertainties, follows a flight to quality trend.
Meanwhile, another law firm, Cooley LLP, is also in talks to take up space in the future office, CoStar News reported.
About the project: Demolition work of the existing building will take about a year to complete, CoStar News reported. The property has been empty since law firm Williams & Connolly relocated in early 2022.
What the judges said: “This project reflects a bold and declarative statement by the developer that: the future of the workplace is here, that DC will continue to be the epicenter of major law firms, and it's time to re-introduce new trophy development to the city,” said Mara Olguin, chief marketing officer of Dweck Properties.
“By shaping a deal that involved securing an ideal site, designing an iconic new trophy building and securing a high-profile anchor, this deal reflects exemplary grit and creativity,” she continued.
BXP "kicked off the first new office building construction in DC in two years and created a path forward for a building that has been 'stuck' ever since Williams & Connoly vacated," said Tammy Shoham, JLL’s director of Washington, D.C., research.
They made it happen: Owner and developer BXP’s Jake Stroman, Saara Brown, Sean Sullivan and Max Planning worked on the project. JLL’s Evan Behr served as the landlord representative. The tenant was represented by CBRE’s Lou Christopher, Jordan Brainard, Rob Copito and Clay Hammerstein.
Senior market manager Nina Thilert contributed.