Potter Anderson Extends Wilmington Office Space Lease to 2041
Potter Anderson & Corroon LLP (Potter Anderson) has renewed its commitment to its headquarters location in Wilmington with a 13-year lease extension of its offices at 1313 N. Market Street, where the firm has been based since 1997.
With the lease extension, Potter Anderson also is planning a major redesign and modernization of its office space, which is expected to be completed in time for the firm’s 200th anniversary in 2026.
“Potter Anderson has been an integral part of the Delaware legal community, and a contributor to the success of the greater Wilmington community, for nearly two centuries,” said Potter Anderson Chairman Peter J. Walsh, Jr. “We are looking forward to the start of our next 100 years as a premier firm in Delaware.”
Walsh added that favorable market conditions and the firm’s commitment to the Wilmington business district led the firm to approach its landlord well in advance of its current lease expiration in 2028.
As the building’s largest tenant, the firm currently occupies the entire sixth and seventh floors with 82,757 square feet of space. The planned improvements in the space include a redesigned suite for visiting trial teams, improved amenities, and “Legacy Hallways” where the firm will highlight its impact on the Delaware legal and business communities.
“The deal to extend our lease will benefit our attorneys and employees for many years to come,” said Potter Anderson real estate partner Joy A. Barrist, who led the lease extension negotiations on behalf of the firm, along with Jamie Vari, executive vice president at JLL, the tenant’s broker. “We are pleased to continue practicing in the building that has been our home for a quarter century.”
“We’re delighted that Potter Anderson has chosen to remain in Wilmington and to continue investing in our City, which the prestigious firm has called home for almost 200 years,” said Mayor Mike Purzycki. “While corporations coming into town frequently grab the big headlines, retaining our valued corporate partners is no less significant. By extending its lease at 1313 N. Market Street, Potter Anderson is showing its affection for Wilmington as well as confidence in our future.”
In addition to improvements within Potter Anderson’s office space, ownership of 1313 N. Market Street in downtown Wilmington plans to enhance the amenities available to all the building’s tenants over the next several years, according to Scott Johnson, partner at Johnson Commercial Real Estate, the management company for 1313 N. Market Street. “With the successes of The Chancery Market Food Hall and The Screening Room at 1313, we plan to continue to enhance the tenant experience with additional amenities,” said Johnson. “A co-working space, an upscale fitness facility, and boutique lifestyle hotel are all a part of the 1313 N. Market St. master plan.”
About Potter Anderson
Potter Anderson & Corroon LLP is one of the largest and most highly regarded Delaware law firms, providing legal services to regional, national, and international clients. With more than 100 attorneys, the firm centers its practice on corporate law, corporate litigation, intellectual property, commercial litigation, bankruptcy, labor and employment, and real estate.
About Johnson Commercial Real Estate
Johnson Commercial Real Estate is a privately held, acquisition, development, and management company with commercial properties located in downtown Wilmington, Delaware. We pride ourselves on providing the exceptional service and expertise usually found in larger firms in tandem with the personalized approach and relationships that only a homegrown, local shop can provide. Our talented team provides on-site management for all our properties. We are ready to assist whenever our tenants need us – 24/7/365. More information is available at www.jcomre.com.
Media Contact
Lisa Altman, Jaffe PR, Senior Vice President
About Potter Anderson
Potter Anderson & Corroon LLP is one of the largest and most highly regarded Delaware law firms, providing legal services to regional, national, and international clients. With more than 100 attorneys, the firm’s practice is centered on corporate law, corporate litigation, intellectual property, commercial litigation, bankruptcy, labor and employment, and real estate.