Barnes & Thornburg has expanded its workspace in downtown Chicago following a significant hiring spree.
The Indianapolis-based law firm signed a lease extension for 96,000 square feet in its long-standing office at 1 North Wacker Drive, reclaiming a floor previously subleased to BakerHostetler, Crain’s reported.
The move, prompted by the firm’s rapid growth during the pandemic, also extends its lease term through 2036. The lease was negotiated by Savills brokers on behalf of Barnes & Thornburg, while landlord Irvine Company was represented by in-house brokers Greg Tait and Maggie Brophy.
Barnes & Thornburg previously reduced its office space in 2018 by subleasing the 45th floor and reconfiguring the remaining three floors to accommodate about 90 attorneys. However, the firm needed additional space to accommodate growth. It now employs 135 attorneys and over 220 total staff members.
“We’re busting at the seams. Any time we bring in a new person, the question is, ‘Where are we going to put them?’” managing partner Michael Carrillo said.
The firm plans to build out the 45th floor with an event space, conference rooms and a social lounge aimed at encouraging staff to work from the office more regularly. Instead of mandating in-office attendance, Carrillo says the goal is to foster a collaborative environment organically.
The decision to expand the firm’s office footprint is notable amid a broader trend of companies reducing space due to remote and hybrid work trends.
For instance, Washington, D.C.-based Crowell & Moring and Chicago-based Winston & Strawn have scaled down their workspaces since 2020. Meanwhile, New York-based White & Case have opted to increase its office footprint.
The lease extension is a significant win for Irvine Company, which has faced challenges with high vacancy and major tenant UBS reducing its footprint. PricewaterhouseCoopers, the building’s largest tenant, has also considered reducing or terminating its lease of nearly 280,000 square feet.
— Andrew Terrell
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