Debevoise & Plimpton inks lease at The Spiral

Debevoise & Plimpton has signed a 530,000-square-foot lease at Tishman Speyer’s office development at 66 Hudson Boulevard. The 20-year lease will give the law firm floors 40 through 52 of the building, according to the WSJ.

• How the deal came together: Strong leasing velocity! Debevoise was nearing a deal at 50 Hudson Yards before Facebook swooped in to take their space as part of a 1.5 million square-foot deal with Related.  The law firm plans to move from their current office at SL Green’s 919 Third Avenue upon Tishman completing the Far West Side project in 2022. 

• Other tenants: Pfizer inked an 800,000 square-foot lease after selling its East 42nd Street headquarters, and AllianceBernstein has also agreed to take 189,000-square-feet at the building. The 65-story office building will span 2.85 million square feet, and has a project cost of $3.7 billion. 

• Tech industry rises: Technology companies surpassed the financial-services sector in leasing activity last, signing deals for more than 5.6 million square feet, compared with about 5.5 million square feet for finance firms.