San Diego, CA
– After a more than 40-year stint at 530 B Street, the San Diego based law firm of Procopio, Cory, Hargreaves & Savitch
is relocating its Downtown headquarters to neighboring 525 B Street. International real estate firm Hines, which owns and manages the 22-story office building, signed the prestigious law firm to a long-term, 100,000 plus-square-foot lease, effective May 1, 2010. Procopio will occupy the top four floors, one additional high-rise floor as well as lower floor space and will be the only law firm in the Downtown San Diego market with premier building top signage.
Founded in San Diego more than 60 years ago, Procopio has long been recognized as a leader in the San Diego business community. The Firm’s expansion into this larger and innovative office space demonstrates its long-term commitment to Downtown San Diego and its continued growth in the San Diego marketplace.
“525 B Street presented the best value proposition to the Firm,” said Tom Turner
, Managing Partner of Procopio. “This relocation offers Procopio strong visibility, generous parking, improved space efficiency and operational effectiveness in a building positioned at the forefront of the sustainable office movement.”
Procopio’s decision to relocate to 525 B Street was also due in part to Hines’ commitment to sustainability and its pursuit of LEED® certification, which the building should attain by year end. Procopio is also working with its design/construction team to certify its own space in the LEED® for Commercial Interiors rating system. The building not only offered Procopio a chance to reduce its carbon footprint, but has also provided an opportunity to incorporate innovative design and technology features into the firm’s new space, such as a roof-top meditative garden, solar panels that will power the firm’s lighting and a skylight that will allow natural light to penetrate all top floors through an innovative stairway.
“We’re thrilled to have such a prominent and prestigious firm select 525 B Street as its new home,” said Paul Twardowski, Hines’ Vice President and Partner in San Diego. “We look forward to a wonderful synergy between Hines’ focus on implementing green real estate practices and Procopio’s own goals to continue its growth in a sustainable manner.”
Procopio was represented in the transaction by Craig Irving of Irving Hughes and Hines was represented by Matthew T. Carlson of Cushman & Wakefield.
About Procopio, Cory, Hargreaves & Savitch LLP
With more than 110 attorneys in San Diego and Carlsbad, Procopio, Cory, Hargreaves & Savitch LLP is one of the largest full-services business law firms in Southern California. We are a local law firm with a global network that gives us the ability to serve our clients’ interests throughout the world. Procopio is dedicated to understanding the businesses and industries of our clients and collaborating with them to develop tailored strategies. We advise companies at every stage in the corporate life cycle, helping them to plan, finance and operate their businesses. Since 1946, our success has been derived from our commitment to our clients and our ability to maximize the value we provide to them. Our goal is to continue building long-term relationships with our clients through a steady, team-oriented approach. For additional information, please visit www.procopio.com
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The Hines portfolio of projects underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 45 million square feet of office, residential, mixed-use, industrial, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments. With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest real estate organizations in the world. In San Diego, Hines owns and/or manages 2.3 million square feet, including PETCO Park, La Jolla Commons, and 525 B Street. Hines is the nation’s leading developer of sustainable office properties (as cited by the University of San Diego Burnham-Moores Center for Real Estate in 2008) and currently has 181 new and existing buildings (146 projects), representing more than 89 million square feet, that have been certified, pre-certified or registered with the U.S. Green Building Council’s (USGBC) LEED Green Building Rating System. Hines is also a leader in sustainable real estate strategies overseas with extensive experience in BREEAM in the United Kingdom, France’s Haute Qualité Environnementale and with the German Sustainable Building Council.