Baltimore law firm Shapiro Sher Guinot & Sandler said Tuesday it will move to new offices on Pratt Street in December, where it can consolidate operations on a single floor and design space to meet its current needs.
The company, which employs about 40 people in its corporate law practice, had been in its 36 S. Charles St. location for more than 20 years, Chairman Joel I. Sher said. Its lease was due to expire at the end of this year.
The new 11-year commitment for the 20th floor of 250 W. Pratt Street shrinks the office footprint from about 24,000 usable square feet to about 15,000, he said. Because the space will be more efficiently designed, that still provides room to expand, he said.
"It's giving us basically a whole floor to redesign and put in place in a way that we think will serve us for the next 10 to 20 years," he said.
The move matches trends in the wider office market, where law firms throughout the country have been downsizing, or failing to expand their footprints while hiring more workers, as technology reduces the need for libraries, copiers and storage space. In Baltimore, many businesses have also taken advantage of a slow office market to migrate to prime real estate on Pratt Street.
Sher said there is already another tenant interested in the firm's current space on Charles Street. The new lease brings the 24-story Pratt Street building, owned by Dallas, Texas-based real estate investment trust TIER REIT, Inc. to full occupancy, according to a news release.Copyright © 2014, The Baltimore Sun