"White and Williams, a Philadelphia law firm, has renewed its lease at One Liberty Place and will remain in the prominent trophy tower at 1650 Market St. for another 15 years.
The decision was part of a trend: It has been more common for tenants in the last couple of years to re-up in existing space rather then relocate.
The law firm signed on to roughly 120,000 square feet, which is less than the 131,000 square feet that it is currently occupying. The reduction in space will come from making its space more efficient, said Guy Cellucci, who will become the new chairman of the firm at the end of October when George Hartnett steps down.
“We looked at a number of other places that were very nice,” Cellucci said. “We love this location and we have a good relationship with the landlord.”
White and Williams has been in the 61-story, 1.2 million-square-foot building since 1990, when it moved in Columbus Day weekend. As part of the lease, it will have the option to take 18,000 to 20,000 square feet of additional space. It will occupy floors 15 through 20."
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