Haynes and Boone New York Doubles Space in Move to Iconic 30 Rockefeller Plaza
The law firm Haynes and Boone just signed a deal to take 74,600 square feet on two floors at 30 Rockefeller Plaza, the entire 25th and 26th in the landmark 70-story tower.
Ken Bezozo, the managing partner of Haynes and Boone’s New York office said that the firm, which is based in Dallas, Texas, began practicing in Manhattan with a single attorney in 2004 and has since grown to just under 50 attorneys. He said the deal at 30 Rock, which will more than double the firm’s office space, was done in anticipation of substantial continued expansion and that the firm is aiming to increase its Manhattan practice to 100 attorneys in upcoming years.
“In New York you can’t lease space for just the next two years, you have to lease for a little longer period than that, which is why we took a larger deal,” Bezozo said. “We will consider subleasing some of the space for now to give us time to grow into it but only a small portion, probably around 10,000 to 12,000 square feet.”
Bezozo said that the firm considered staying in 1221 Avenue of the Americas but that 30 Rock’s floor plan offered a better fit. The building, constructed in the early 1930s and one of Manhattan’s best known skyscrapers, is distinct for its pronounced rectangular shape with a wide north and south flank but a dramatically thinner profile from the east and west. The layout is good for the firm Bezozo explained because it offers plenty of window space for the firm’s partners without a cavernous core.
“Most of our storage and administrative functions are based in Texas so we don’t need a lot of the back office space that you would normally cram into the center of the floor,” Bezozo said. “This was a very efficient fit for us.”
Another pivotal factor in the deal Bezozo said was Tishman Speyer’s multimillion-dollar renovation of the building in recent years, including a new lobby, windows and heating and ventilation units.
Ken Rapp, David Kleinhandler and Andrew Sussman, executives at the real estate services company CB Richard Ellis, represented Haynes & Boone in its deal at 30 Rock and will also oversee the sublease of the small pocket of space in the new office that the company will need time to grow into. None of the three could be reached for comment.
Bezozo said that Haynes and Boone will move to 30 Rock in January and February next year in advance of a March expiration of its sublease at 1221 Avenue of the Americas.
Excerpted from Real Estate Weekley. To view the full article, click here.