WILMINGTON — Morris, Nichols, Arsht & Tunnell LLP has renewed its lease for its law offices across four floors in Wilmington’s tallest building until 2040.
The corporate law firm announced last week that it had renewed its lease for 82,549 square feet across 1201 N. Market Street in downtown Wilmington into the next two decades. The lease extension was negotiated by Tactic Real Estate Advisors.
The firm framed the decision in a press release as part of its continued long-term commitment to Wilmington. Morris Nichols has been headquartered in the city since its founding in 1930
“We are proud to be a part of Wilmington’s business community,” Morris Nichols’ Executive Committee Chair Melissa DiVincenzo said in a press statement. “Our longstanding presence here reflects our commitment to the city and our appreciation of the many advantages it offers, including close proximity to the courts and an excellent quality of life for our attorneys and professional staff.”
In an email to the Delaware Business Times, DiVincenzo said the firm was delighted to call 1201 N. Market Street its home base, in part due to its convenient location for its team and proximity to the Delaware Court of Chancery. She added that due to the firm’s size, having four contiguous floors was a “meaningful advantage for collaboration and efficiency.”
Morris Nichols will also undertake a multi-year office renovation as part of the lease extension, though it has not disclosed the project’s cost or scope. DiVincenzo said the project is in the early stages of planning.
“We have invested significantly in technology over the years, and we are evaluating options to enhance the office layout for our clients and colleagues,” she said in an email.
Morris Nichols has been based out 1201 N. Market St. since 1989. The firm specializes in bankruptcy, corporate, intellectual property and patent work as its core area of focus, working with clients such as Fortune 500 companies and financial institutions, as well as pharmaceutical and tech companies.
The firm prides itself on its identity of having a major hand in shaping Delaware’s corporate law. In the late 1960s, partner Samuel Arst chaired a committee that revised and updated Delaware’s corporate law, impacting millions of businesses and legal entities that have incorporated in the state.
Morris Nichols is Delaware’s fourth largest law firm with approximately 100 attorneys and 80 professional staff members.