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  #121  
Old Posted Jun 5, 2019, 11:40 AM
Nova08 Nova08 is offline
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Holland & Knight to double space at Cira Centre after nabbing Ballard Spahr M&A head
https://www.bizjournals.com/philadel...ra-centre.html

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Martini said the office wants to add a real estate practice — one of Holland & Knight’s strongest practices firmwide — and has had discussions with several groups. The firm signed a one-year lease at Cira Centre that will expire in August. It has reached capacity on the 8th floor, where it has 27,000 square feet. So it extended its lease another three years and has exercised an option for the 7th floor — starting with half of it, which can accommodate another 25 lawyers.
...
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  #122  
Old Posted Jun 6, 2019, 3:04 AM
Hrytsyu Hrytsyu is offline
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I dont hate the upstairs architecture. On the other hand, how it interacts with the cityscape is offensive to people w/ brains and eyeballs and that should be changed.
Yes, ground-level interaction is offensive. If the owners have spare money after managing all the intentional neglect inflicted by former demon Columbia-Sussex, they should address it. Columbia Sussex, whose business model is basically extraction of wealth to extent of vaporization, sold successive owners a pile of debris.

However, viewing the building from the perspective of the Cathedral, please notice, and subsequently admire, how the hotel's tight replication actually pronounces the Cathedral's form.
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  #123  
Old Posted Jun 6, 2019, 1:56 PM
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Jawnadelphia Jawnadelphia is offline
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Looking good Philly.



How much longer until we hear something for the old Mandeville Place parking lot?? With everything going on, that lot has never been as valuable as it is right now.
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  #124  
Old Posted Jun 6, 2019, 3:49 PM
Capsule F Capsule F is offline
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Originally Posted by Nova08 View Post
Holland & Knight to double space at Cira Centre after nabbing Ballard Spahr M&A head
https://www.bizjournals.com/philadel...ra-centre.html
To any lawyers on the forum: Does the growth of non-native firms affect Philadelphia firms in any way?

Also, what is the general barometer regarding Philadelphia firms? Are the doing well? Expanding nationally? Growing?
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  #125  
Old Posted Jun 6, 2019, 5:40 PM
iamrobk iamrobk is offline
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To any lawyers on the forum: Does the growth of non-native firms affect Philadelphia firms in any way?
It could take business away from them. To give a practical example based on that article, H&K just stole a partner from Ballard. It's possible that clients who were using that partner at Ballard may reach out to him for other legal work which he may now direct to partners located at H&K's offices in NYC/elsewhere instead of Ballard's Philly office. That partner may also give work to junior associates located in H&K's other offices instead of Philly, particularly until H&K is able to properly staff their Philly office (which it sounds like they're going to be doing).

On the other hand, maybe now H&K devote more resources to their Philly office and work they were doing for Philly-based companies will now be done in Philly as opposed to being done in other offices (i.e. if they have any Philly biotech clients, maybe right now they have attorneys in their Boston office - which presumably has some biotech clients - do the work for those Philly clients, and maybe now they'll hire people to Philly to do it instead). This is all hypothetical, and I know next to nothing about H&K haha. At the end of the day, ideally with these big firms we want as many of the partners located in Philly as possible, because everything else follows them.

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Originally Posted by Capsule F View Post
Also, what is the general barometer regarding Philadelphia firms? Are the doing well? Expanding nationally? Growing?
jsbrook can probably speak more to this than I can since I'm in government and not private practice, but they seem to be doing relatively well recently, especially Morgan Lewis. Dechert was expanding a few years ago and was in the process of moving their 'main' office to NYC, but I think that all sort of blew up in their face and didn't go well. (Of course, this was 3-4 years ago now, so who knows what they're doing.) None of the others really seem to be struggling at all, which I think is more to do with the economy doing well on a macro level than anything else.
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  #126  
Old Posted Jun 6, 2019, 6:55 PM
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Jayfar Jayfar is offline
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jsbrook can probably speak more to this than I can since I'm in government and not private practice, but they seem to be doing relatively well recently, especially Morgan Lewis. Dechert was expanding a few years ago and was in the process of moving their 'main' office to NYC, but I think that all sort of blew up in their face and didn't go well. (Of course, this was 3-4 years ago now, so who knows what they're doing.) None of the others really seem to be struggling at all, which I think is more to do with the economy doing well on a macro level than anything else.
This all reminded me that it's been 10 years now since Wolf, Block, Schorr imploded and vanished. Who would have ever thunk that a firm once so thoroughly wired into the Philly political establishment would one day be no more.

Partners vote to end Wolf Block | inquirer.com
The venerable Philadelphia law firm fell victim to collapsing credit and real-estate markets. It had also been hit by a wave of key departures.

https://en.wikipedia.org/wiki/WolfBlock
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  #127  
Old Posted Jun 6, 2019, 7:08 PM
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Random but relevant anecdote, one of my classmates ended up at Holland & Knight after originally getting an offer from Reed Smith. The group he was hired into was the one of the ones that left to open the Philadelphia office. Fortunately for him they re-extended the offer after they left.
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  #128  
Old Posted Jun 6, 2019, 9:58 PM
jsbrook jsbrook is offline
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Originally Posted by Capsule F View Post
To any lawyers on the forum: Does the growth of non-native firms affect Philadelphia firms in any way?

Also, what is the general barometer regarding Philadelphia firms? Are the doing well? Expanding nationally? Growing?
As iamrobk notes, some of these branch offices can poach partners from the larger Philly natives. But if you’re asking whether modest growth in some of these branch offices much impacts growth at the large Philly-headquartered firms, I don’t think it really does.

As far as Philly firms, Morgan is doing well and growing internationally. Jami wants to rule the world. I think Dechert is doing fine; no explosive growth or big acquisitions, but they are still a very profitable law firm with sophisticated representations and clients and able to command high rates. The other Philly firms are smaller and less international in scope, though I believe some have international offices. Not as profitable, lower salaries, but as far as I know they are strong and healthy. Of course, you never know. I don’t have inside information on how leveraged they are or what issues might exist as to their internal business models, which can crater a seemingly healthy firm. Especially if there are some high profile departures of people with big books. Has happened many times.
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  #129  
Old Posted Jun 7, 2019, 2:58 PM
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https://www.bizjournals.com/philadel...novations.html

Did not know about this. Great to see interior renovations happen since this is a great bldg and one of my favs.
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  #130  
Old Posted Jun 7, 2019, 3:29 PM
rb233541 rb233541 is offline
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Interesting--I'd love it if the Macy's were less of a dump. Or, better yet, converted to a Bloomingdales or something else a bit more high end.
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  #131  
Old Posted Jun 7, 2019, 3:36 PM
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Couldn't agree more on sprucing it up. But, I think this location is one of Macy's most profitable so they will not be going anywhere.
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  #132  
Old Posted Jun 7, 2019, 4:40 PM
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That's surprising--the only reason I suggest Bloomingdales is that Macy's owns them. But given the general decline in department stores, I would be very surprised to see it change. It's just sad to see a great retail space like that in such terrible shape.
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  #133  
Old Posted Jun 7, 2019, 5:33 PM
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Interesting--I'd love it if the Macy's were less of a dump. Or, better yet, converted to a Bloomingdales or something else a bit more high end.
it's not the brand, its the upkeep of the story. A Macy's can be nice- it's just that THIS Macy's hasn't been updated in decades.
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  #134  
Old Posted Jun 7, 2019, 5:58 PM
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it's not the brand, its the upkeep of the story. A Macy's can be nice- it's just that THIS Macy's hasn't been updated in decades.
Well, I greatly prefer a nice Bloomingdales to a nice Macy’s. But that’s going to be a business decision by the company whether that location or any Philly location would get the right clientele and generate sufficient revenues. The updates to the building and physical space are welcomed.
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  #135  
Old Posted Jun 7, 2019, 6:07 PM
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I was in the Macy's over the last Xmas holiday and a lady was screaming stop stalking me or something to another person. I think it was a man. The man denied it. Everyone just kind of stopped in their tracks to watch this play out. One store employee just stood there and watched. A few minutes later, the lady just left the store and the man went about his business and shopped. Needless to say, the lady was a few cards short of a full deck and probably off her meds. But quite the commotion and I wasn't sure if something bad as in violence was going to happen or not, but I watched it for its entirety. The point of my story is maybe this location isn't really suited for a Bloomie's. As others have said, it would of been awesome if a scaled-down Bloomie's was located on a couple levels in the Laurel, but we all know that is a pipe dream now.
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  #136  
Old Posted Jun 7, 2019, 7:49 PM
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Originally Posted by iheartphilly View Post
I was in the Macy's over the last Xmas holiday and a lady was screaming stop stalking me or something to another person. I think it was a man. The man denied it. Everyone just kind of stopped in their tracks to watch this play out. One store employee just stood there and watched. A few minutes later, the lady just left the store and the man went about his business and shopped. Needless to say, the lady was a few cards short of a full deck and probably off her meds. But quite the commotion and I wasn't sure if something bad as in violence was going to happen or not, but I watched it for its entirety. The point of my story is maybe this location isn't really suited for a Bloomie's. As others have said, it would of been awesome if a scaled-down Bloomie's was located on a couple levels in the Laurel, but we all know that is a pipe dream now.
A full line Bloomie's needs between 120,000 and 150,000 square feet. The Laurel only has 55,000 sq ft for retail. They might have been able to do more than this but are limited based on floor plate and site architecture. Hard to find an appropriate site here. 8th & Market would fit the bill from a size perspective but not sure Bloomingdale's is otherwise that adventurous or willing to gamble. Perhaps the Laurel will yet surprise us with a scaled down version of Bloomingdales. That would be welcome, though not sure it is the "revolutionary" retailer they have promised.
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  #137  
Old Posted Jun 7, 2019, 8:11 PM
Capsule F Capsule F is offline
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This Macy's IS nice, however its just messy and unkempt because management keeps it that way. Most Macy's are like this unfortunately. I still think the place producers a decent shopping experience.
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  #138  
Old Posted Jun 7, 2019, 8:16 PM
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Originally Posted by jsbrook View Post
A full line Bloomie's needs between 120,000 and 150,000 square feet. The Laurel only has 55,000 sq ft for retail. They might have been able to do more than this but are limited based on floor plate and site architecture. Hard to find an appropriate site here. 8th & Market would fit the bill from a size perspective but not sure Bloomingdale's is otherwise that adventurous or willing to gamble. Perhaps the Laurel will yet surprise us with a scaled down version of Bloomingdales. That would be welcome, though not sure it is the "revolutionary" retailer they have promised.
Is the 55k on 1 level? The Laurel could achieve the standard require size in 2 or 3 floors. It's a tall order for Southern Land, and not sure if that would of held up the project. It's one of those would of and should of, but not likely to happen for those reasons. I selfishly envisioned it to something like the Time Warner bldg in Columbus Circle with all the available square footage for big name tenants. Oh well, maybe something for Brandywine to pitch to for the SY project. It's our own little Hudson Yards if you will.
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  #139  
Old Posted Jun 7, 2019, 10:05 PM
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Macy*s store display strategy for eons: "Pile 'em High and Watch 'em Fly."
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  #140  
Old Posted Jun 8, 2019, 8:19 PM
Londonee Londonee is offline
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Originally Posted by cardeza View Post
it's not the brand, its the upkeep of the story. A Macy's can be nice- it's just that THIS Macy's hasn't been updated in decades.
Not sure what Macy's y'all visit that's a gleaming monument to shopping glory.

This Macy's is just fine.
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