787 Seventh Avenue, New York, NY
60 State Street, Boston, MA
1000 Louisiana Street, Houston, TX
Challenge: Sidley Austin LLP, the sixth-largest corporate law firm based in the United States, needed to modernize and right size a number of its offices around the U.S.
Strategy: The Colliers team helped Sidley Austin complete an exhaustive workplace strategy and forecasting program to understand its current and future needs. The team was not deal-driven, but rather focused on working with the firm to develop both an accurate accounting of Sidley Austin’s long-term needs and a strategy reflective of its business going forward. With a goal of tripling or quadrupling the size of its Boston office, Sidley Austin turned to Colliers for a creative solution. The team negotiated a below-market expansion (27,000 square feet) in a strong landlord’s market environment.
Result: Partnering with senior-level market experts, Colliers negotiated flexible and right-sized solutions for Sidley Austin’s Houston and Boston offices.Colliers relocated Sidley Austin to 49,000 square feet of space in a superior Class A building in downtown Houston at a below-market lease rate, which gave the firm additional space to accommodate several new partners.
Colliers most recently advised Sidley Austin on a long-term lease restructure for 352,112 square feet at 787 Seventh Avenue in New York City. The strategy was defined by the need to modernize Sidley Austin’s space and standards and adjust its real estate commitment to reflect the firm’s headcount over the next 20 years.