Tactix Real Estate Advisors kicked off the year picking up two additional major law firms in the market seeking space, continuing its dominance representing the local legal sector in lease deals.
The Radnor-based boutique brokerage is now representing an 80,000-square-foot Center City firm that it can't disclose the name of -- yet -- and Richards Layton & Finger, a Wilmington-based law firm that leases roughly 125,000 square feet at the Chase building. Tactix, which solely represents tenants, is also running around with Saul Ewing, which is in 110,000 square feet in Centre Square, which is has occupied for the past 30 years, and Fox Rothschild, which leases 90,000 square feet at 2000 Market St. Saul Ewing's lease expires in May 2010 and Fox Rothschild's at the end of next year.
In all, Tactix has wrapped up leases in its 10 years on 35 law firms. For example, in December it closed on Buchanan Ingersoll's 80,000-square-foot lease at Two Liberty Place, Hamilton Lane at One Belmont Avenue in Bala Cynwyd, and numerous deals for Fox Rothschild throughout the region and across the country. It also helped Dechert and Woodcock Washburn secure the first leases at Cira Centre in 2004, kicking off construction of the new tower.
"I think we understand law firms because a lot of us were lawyers," said Glenn Blumenfeld, who left Dechert in late 2002 to become a partner at Tactix. Judd Wambold, who formed Tactix in 1997 with Sal Ambrosio, was also an attorney at Dechert. Many of its hires have also been lawyers who left area law firms.