Geographical Shift Results in Significant Economic Savings for DC Area Law Firm
Odin, Feldman & Pittleman (OF&P), one of the Washington, D.C. area's premier independent law firms was facing an impending lease expiration and engaged Savills to evaluate its real estate options. The firm occupied three floors in a building in Fairfax, Virginia for over 20 years. Over time, OF&P’s needs changed, and the existing space was deficient in a number of areas: technological upgrades were desired, there was a lack of adequate conference space, and more flexible attorney work spaces were needed.
In conjunction with the firm’s space committee, Savills undertook a comprehensive process of identification, analysis and negotiation of proposed transactions for space in existing buildings in several submarkets within Fairfax County, Virginia. The evaluation included a detailed report/analysis of all realistic options including qualitative and quantitative consideration of each building as well as an assessment of impact on employee commute patterns and a review of the financial and property management credentials of each landlord/developer.
OF&P ultimately elected to relocate to Reston and signed a fifteen-year lease at 1775 Wiehle Avenue. The decision represented a monumental geographical shift for the firm, which had been based in Fairfax since its founding in 1972. OF&P was able to take advantage of an existing build out for a previous law firm tenant. The result was significant economic savings for the firm as well as a reduction in the overall construction time. In addition, the law firm became more sustainable in its operations by preserving a significant portion of the existing premises through the reuse of its existing space.
OF&P moved into a new home that offered flexibility for growth and technological improvements. The new office includes a conference center to host client and industry events and offers the law firm increased efficiency through a reduced floor plan, high density shelving and the elimination of duplicate functions (e.g. reception areas). OF&P’s was also able to strengthen its internal firm synergies through a re-engineering practice groups and business functions due to the significant upgrade in IT infrastructure.