NEW YORK, May 6, 2008 (PRIME NEWSWIRE) -- Global law firm Weil, Gotshal & Manges LLP announced today that it will expand from its New York City headquarters by opening a new office in Downtown Brooklyn's MetroTech Center. In a move that underscores the firm's commitment to its staff and the future of the City, Weil will take a significant block of space in 15 MetroTech, the newest building within the MetroTech Commons -- a major presence in the Downtown Brooklyn area. The office will house several of the firm's staff groups, including employees in Information Systems, Finance and Operations.
"Weil is making a bold new move to help us meet the challenge of planning for future growth by realizing new real estate efficiencies," said Stephen Dannhauser, Chairman of Weil Gotshal. "MetroTech is an ideal location because it provides an inviting, productive working environment, great amenities and convenient commuting. At the same time, this choice reinforces our deep belief in the future of New York City."
MetroTech Center spans ten blocks of Downtown Brooklyn between Flatbush Avenue and Jay Street and is located near many of the borough's cultural institutions, including Brooklyn's major commercial and civic center.
"Downtown Brooklyn offers us a distinctive mix of corporations, universities, retail shops, restaurants and cultural venues," said Philip Rosen, co-head of Weil's national real estate practice, who is spearheading the firm's move. "The MetroTech development itself is a catalyst for the borough's economic renaissance, helping attract major corporations and organizations seeking an attractive environment for their employees. We are quite pleased about the role we can play in Brooklyn's renaissance, as well as the support we have received in our decision from officials in City Hall and the Downtown Brooklyn Partnership."
"Brooklyn is proud to add Weil Gotshal to the impressive roster of home-grown and international businesses that have chosen to headquarter in, or expand into, our borough," said Brooklyn Borough President Marty Markowitz. "This esteemed global law firm's expansion to MetroTech helps diversify Brooklyn's economic base and will, of course, only enhance Downtown Brooklyn's growing reputation as the epicenter of New York City's legal community."
"With nearly $10 billion in new investment in dozens of projects now underway, Downtown Brooklyn continues to grow as New York City's third largest central business district," said Robert Catell, Co-Chairman, Downtown Brooklyn Partnership, and Executive Director and Deputy Chairman of National Grid. "Attracting a blue chip law firm to the mix of tenants here sends a strong signal that Brooklyn's economy is strong."
Weil, Gotshal & Manges will take space from Wellpoint in a long-term sublease arranged by Glenn Markman and John Cefaly of Cushman & Wakefield, who represented Wellpoint, and Kirk A. Killian of Partners National, who represented Weil, Gotshal & Manges.
"Downtown Brooklyn's combination of demographics and economics has created the ultimate work environment," said Glenn Markman, an executive director at Cushman & Wakefield. "Brooklyn has become a must see, logical alternative to Manhattan for any company considering new office space thanks to the efforts of the Downtown Brooklyn Partnership."
As a new occupant at MetroTech, Weil Gotshal will be joining a roster of first-class office tenants in Downtown Brooklyn including AIG, Goldman Sachs, JPMorgan Chase, Morgan Stanley, National Grid (formerly Keyspan Energy), WellPoint Inc., the New York City Fire Department Headquarters, Polytechnic University, New York Life, HSBC, Bank of New York and, soon, New York University's College of Engineering. Nearby are several other emerging commercial and residential ventures including Pierrepont Plaza, the Marriott at the Brooklyn Bridge and Renaissance Plaza.
About Weil, Gotshal & Manges
Weil, Gotshal & Manges LLP (www.weil.com) is a global law firm of approximately 1,300 lawyers, including over 300 partners. Weil Gotshal is headquartered in New York, with offices in Austin, Boston, Budapest, Dallas, Frankfurt, Hong Kong, Houston, London, Miami, Munich, Paris, Prague, Providence, Shanghai, Silicon Valley, Warsaw, Washington D.C. and Wilmington.
The Weil, Gotshal & Manges LLP logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4964