Updated 4:37 p.m.
Linklaters has cemented its presence in Washington with the signing of a 10-year lease in the Homer Building, located in the heart of the Metro Center neighborhood.
The firm announced this week that it will occupy 9,900 square feet in the building at 601 13th Street N.W. Linklaters' arrival makes it the fourth of the top five U.K. firms, often called the "Magic Circle," to set up shop in Washington.
The firm previously operated an office in the district from 1992 to 2002. Linklaters U.S. managing partner Jeff Norton said that the firm was already in the Homer Building on a temporary basis before signing the lease, so when it came time to negotiate a lease, the process was "quick and easy."
"We were comfortable with the building and the lay of the land," Norton said. "I think our discussion with the landlord went quite well."
The lease also allows the firm the flexibility to take more space as the office grows, Norton said. Currently the office has six attorneys. He added that the building's central location and natural light were attractive to the firm.
"I found D.C. to be kind of refreshing because there are a lot of good buildings to choose from," Norton said. Compared to New York, Norton said that "the buildings tend to be smaller, so they stand out with amenities."
The 430,000 square-foot Homer Building has at 12-story atrium, rooftop terrace and fitness center. The building was originally designed as a five-story building, built in 1913, but was redeveloped by Akridge in 1990 to 12 stories. Existing law firm tenants in the building include Brown Rudnick and South Carolina-based Haynsworth Sinkler Boyd.
Norton declined to give the value of annual lease, and referred the question to Linklaters COO, Michael Brock. In an email, Brock declined to comment on the financial terms of the lease. The property is valued at $274 million, according to public records.
Akridge director of marketing Corinne Schieffer said that it is company policy not to reveal the specifics of deal terms, but said that the going rate in the Homer Building ranges from $48 to $56 per square foot.