The Real Deal Los Angeles

Goodwin law inks lease in Santa Monica, lured by growing tech hub

Firm takes 20K sf for its 2nd LA location
By Gregory Cornfield | March 11, 2019 02:00PM

David Hashmall, chairman of Goodwin, and Andrew J. Weidhaas, partner co-chair of private equity for Goodwin with 520 Broadway (Credit: Google Maps)

Goodwin law firm has inked a lease for its second office in Los Angeles, this one in the growing tech hub around Silicon Beach.

The new location will occupy more than 20,000 square feet over the entire fifth floor at 520 Broadway in Santa Monica, the company announced. About 20 attorneys will work at the office, focused on technology and private equity law.

L.A.-based Olive Hill Group owns the 113,000-square-foot building, which it purchased from Tishman Speyer for $117 million in 2017.

David Hashmall, chairman of Boston-based Goodwin, said the firm opened the new office to be closer to where more of their clients are doing business, in Silicon Beach which has created a surge of tech investment and big office leases. The firm’s other office is at 601 S. Figueroa Street in DTLA. That location will continue to focus on real estate, private equity, commercial litigation, and defense of financial institutions.

Tech companies have increasingly turned to communities like Santa Monica, Venice, and Playa Vista for office space, driving the markets the past year, and boosting both commercial and residential real estate prices.

The co-working industry has started to take interest as well. In late January, the firm Spaces signed a 10-year lease for 69,200 square feet in Santa Monica’s Water Gardens campus.