Monday, July 16, 2012

Cozen O’Connor signs a big lease in One Liberty

by Jeff Blumenthal
Cozen O’Connor has signed a 17-year lease at One Liberty Place, where the firm will occupy nine floors and about 200,000 square feet. The law firm currently is located at 1900 Market St., where it endured an acrimonious relationship with its landlord toward the end of its 31-year stay in the building.

Cozen O’Connor, which has 215 attorneys and 350 staff members in its Philadelphia headquarters, will take floors 21 through 28, as well as the seventh floor of the building, thus filling the space that will be vacated by Reed Smith in 2014 and then some. Cozen will retrofit the space before moving in spring 2015.

That opportunity came when Pittsburgh-based Reed Smith late last year decided to move its Center City offices to 1717 Arch St. after spending more than 20 years at One Liberty. It signed a long-term lease on 115,000 square feet at the building — once known as the Bell Atlantic Tower but now commonly known as Three Logan Square — and will move in early 2014. That created a 150,000-square-foot vacancy at One Liberty on floors 23 through 28 and a portion of the 22nd.
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