Building Will Be Renamed to Reflect Law Firm’s Occupancy

(May 8, 2009, San Francisco, CA) Reed Smith LLP, one of the 15 largest law firms in the world, and Hines, a leading international real estate firm, just closed San Francisco’s largest 2009 deal to date, for nearly 100,000 square feet at 101 Second Street, in the Mission Street Corridor of San Francisco’s South Financial District.

The deal includes renaming the structure the “Reed Smith Building.”  The firm is planning an August 2009 move-in.

“This is ideal space from any perspective,” said David Thompson, Reed Smith’s San Francisco Managing Partner. “It is well located in San Francisco’s downtown, and the space is exceptionally well-apportioned to meet our current needs, as well as support the firm’s growth in this region.”

Reed Smith will occupy 94,704 square feet on floors 2, 17, 18, 19, 20 and 21 of the Reed Smith Building by fall 2009, and will add additional space on the building’s 23rd floor in 2012.  Some 152 lawyers can be accommodated in the currently leased space, and 190 can be accommodated in the additional space, providing 579 square feet per lawyer, considered highly efficient by U.S. benchmarks. The second floor of the Reed Smith Building will house support staff, including the firm’s information technology, human resources, record management and accounting functions.

All lawyers from Reed Smith’s current San Francisco office at Two Embarcadero Center will relocate to the Reed Smith Building.  Some lawyers from the firm’s Oakland office will also relocate to the building.

This is the third current lease agreement between Reed Smith and Hines: The real estate company is also Reed Smith’s landlord in Washington, D.C., and Richmond, Virginia.

“We are delighted to welcome Reed Smith to 101 Second Street,” said Norm Spencer of Hines.  “Our organizations have a longstanding, positive relationship, and Reed Smith has always been a wonderful tenant.  We expect them to grow and prosper in this space.”

The 11-year lease between Reed Smith and Hines was negotiated by Charles H. Seaman, a partner in Reed Smith’s firm-wide Real Estate Practice, who works in the San Francisco office. The deal includes two five-year renewal options.

The 26-story Reed Smith Building was designed by Skidmore, Owings & Merrill and was completed in 2000. It is defined at the street level by a cornerstone comprising a dramatic, glass-clad, four-story atrium, which serves as an art pavilion featuring major art commissions by painter Charles Arnoldi and sculptor Larry Bell, as well as a significant public space for tenants and visitors.  On warm days, the building is opened at the street level to bring the outdoors inside.

“Another of the many attributes which made 101 Second Street very attractive for Reed Smith is that the building has an ENERGY STAR® rating and is in pursuit of LEED® certification,” said Gary A. Sokulski, Reed Smith’s Chief Operating Officer. “This dovetails with Reed Smith's own Green Initiative and corporate social responsibility program and we are looking at all our office spaces with these issues in mind.”

The Thelen law firm, which disbanded in 2008, was formerly located in the building. Reed Smith intends to leverage many of the existing improvements made by Thelen, including computer rooms, conference rooms and other spaces.

About Reed Smith

Reed Smith is one of the 15 largest law firms in the world, with nearly 1,700 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. 

Founded in 1877, the firm represents leading international businesses from Fortune 100 corporations to mid-market and emerging enterprises.  Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and high-stake matters, deliver regulatory counsel, and execute the full range of strategic domestic and cross-border transactions.  Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, technology and media, shipping, energy trade and commodities, real estate, manufacturing, and education.  For more information, visit reedsmith.com

U.S.: New York, Chicago, Los Angeles, Washington, San Francisco, Philadelphia, Pittsburgh, Oakland, Princeton, Northern Virginia, Wilmington, Silicon Valley, Century City, Richmond

Europe: London, Paris, Munich, Greece

Middle East:  Abu Dhabi, Dubai
 
Asia:  Hong Kong, Beijing

About Hines

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 454 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.  In San Francisco, Hines owns and/or manages 5.7 million square feet of office space.  With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.