McDermott Signs One of Largest Private Sector Agreements in Washington, DC Metro Area This Year

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Premier International Law Firm Signs Letter of Intent with Clark Enterprises and Boston Properties to Occupy 165,000 Square Feet of Class A, Office Space on Capitol Hill

We view Washington, DC as a key growth market for the Firm, and we are bullish about our prospects for business growth here.

In a bold move that signals the importance of the D.C. legal market to major U.S. law firms and its own internal growth projections, McDermott Will & Emery LLP announced today that it has signed a letter of intent with Clark Enterprises and Boston Properties to occupy 165,000 square feet of Class A, office space on Capitol Hill.

The letter indicates that McDermott will relocate its offices from 600 13th Street, NW to a new home at 500 North Capitol Street, in November 2012. The new location will put McDermott’s lawyers within steps of the U.S. Congress, the Supreme Court, the Securities and Exchange Commission, the Federal Trade Commission Annex, the Tax Court, the Federal Energy Regulatory Commission, the Thurgood Marshall Judicial Center Complex, the Library of Congress and Union Station.

In this completely refurbished new location, at the corner of North Capitol Street and E Street, N.W., McDermott will be the primary occupant. The building will be known as "The McDermott Building“ with noteworthy signage clearly identifying the Firm. As part of the deal, which is subject to approval by the Commission of Fine Arts, the building will be completely renovated and upgraded with state-of-the art technology, including new mechanical and electrical systems, elevators, and an entirely new, glass façade. The building is being designed to achieve LEED Certification through the US Green Building Council.

“This location confirms McDermott’s strong commitment to the Washington market,” said Peter J. Sacripanti, Co-Chair of McDermott Will & Emery. “We view Washington, DC as a key growth market for the Firm, and we are bullish about our prospects for business growth here. Our move to 500 North Capitol Street, with its prime location at the heart of our national government, is a perfect illustration of our strategy.”

“We couldn’t be happier with the terms of this deal and the tremendous spirit of cooperation and flexibility we have received from Clark Enterprises and Boston Properties,” added Jeffrey E. Stone, Co-Chair of the Firm. “We have developed a true partnership with an outstanding landlord and developer who have been willing to incorporate law firm space requirements into their base building design. McDermott’s lease also comes with options to expand, and the possibilities for further development are very clear and compelling.”

The Firm will have extensive input into the design of key building features, reflective of a trophy- class building. The building will incorporate many “custom” features for McDermott, including a top floor conference center with striking views of the U.S. Capitol, roof top terrace with a 360 degree, panoramic view of the DC landscape, a fitness center, and a ground floor plaza area.

Since its opening in 1978 with two lawyers, McDermott’s Washington, D.C., office has become a broad ranging practice comprising 220 attorneys and 190 staff. Originally known for representing clients before government agencies, congressional committees, the executive branch, the legislative branch, and before federal and state courts, McDermott’s Washington, D.C., lawyers now advise clients on matters ranging from corporate mergers and acquisitions to intellectual property litigation and protection, regulatory issues, employee benefits, white collar and securities defense, tax and other areas. The Firm services clients in a broad spectrum of industries that include among others, multinational corporations, government and political institutions, environmental agencies, international organizations and high technology companies.

Ray Ritchey of Boston Properties stated, "We could not be more honored by the decision and are committed to creating a new Capitol Hill landmark consistent with the stellar reputation and image of McDermott that will serve as a lasting tribute to the Firm. Rebecca Owen of Clark Enterprises added: “Clark and Boston Properties are long term owners of real estate, committed to strong working relationships with our tenants throughout their occupancies. We are excited to be a part of this remarkably cooperative, cohesive and creative McDermott/Clark/Boston Properties team.”

McDermott Will & Emery LLP was represented by Lois Zambo and Steve London of Studley, a global real estate advisory firm. Boston Properties and Clark Enterprises were represented by Art Santry, Phillip Thomas, Zeke Dodson and Kerri Mulligan-Salih of Cassidy Turley. The Clark Construction Group will perform the base building renovation as well as the tenant improvements and Gensler is the architect for both phases of the project.

McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, the Firm has offices in Boston, Brussels, Chicago, Düsseldorf, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Rome, San Diego, Silicon Valley and Washington, D.C., and a close strategic alliance with MWE China Law Offices in Shanghai.

http://www.mwe.com

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