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Fulbright & Jaworski to Remain Downtown, Move to Different Thomas Properties Group Class-A High Rise

^{Published on 2010-12-20 14:51:04 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--[ Fulbright & Jaworski, LLP ], one of the nationa™s largest law firms, will move its Austin offices from [ One American Center ] at 6th and Congress to [ San Jacinto Center ] at Cesar Chavez and San Jacinto. Both buildings are in downtown Austin, and both are owned and managed by a partnership led by Thomas Properties Group, Inc. (NASDAQ: TPGI).

"We have been located in One American Center for more than 25 years, and it is a good time to make a change"

aWe have been located in One American Center for more than 25 years, and it is a good time to make a change,a said Butch Hayes, Fulbright & Jaworskia™s Partner-In-Charge for the Austin office. aThis move will allow us to be situated on contiguous floors, to create more collaborative space for our attorneys and staff, and to have better access to the 2nd Street area. For many years we have appreciated our relationship with Thomas Properties and are pleased to continue it in this way.a

Scheduled to move in summer 2011, Fulbright & Jaworski will occupy more than 73,000 square feet among the 8th through 11th floors, representing approximately 18 percent of the building. The international law firm will move all of its approximately 190 employees.

With its pyramid resting atop 21 floors and just over 404,000 square feet, San Jacinto Center is a distinguished building within downtown Austina™s skyline. The buildinga™s circular lobby features Texas Crme limestone and Llano Rose granite floors. San Jacinto Center is located along Lady Bird Lake, adjacent to Four Seasons Hotel Austin and the newly completed Four Seasons Residences Austin, and has easy access to IH-35 and Congress Avenue.

Jane Snoddy Smith, a Fulbright & Jaworski real estate partner, led the firma™s three-year space search and the lease negotiations. aBy moving to San Jacinto Center we will be located in a vibrant part of downtown. With the help of Gensler, our staff and attorneys, we are designing a new space that will be efficient, sustainable and flexible for the long term,a said Jane Smith.

aWe are extremely pleased that Fulbright & Jaworski has chosen to stay in one of our class-A downtown properties,a said Thomas Properties Groupa™s Andrew Smith, who brokered the deal along with Mark Miller of Thomas Properties and Mark Oa™Donnell of [ Studley, Inc. ] on behalf of Fulbright. aIt was a top priority to find a way to keep such a valued customer in the CBD and in one of our properties. Their decision to move from one of Thomas Propertiesa™ buildings to another is strong evidence to our relationship, our market-leading efforts in sustainability and our focus as a firm on customer service.a

aWhile it took some time to find the right future home for Fulbright, once we selected San Jacinto Center, the creativity of the Studley, Thomas and Fulbright teams made our move possible,a said Jane Smith.

Andrew Smith added, aIta™s also a strong endorsement for downtown. Fulbright & Jaworski had a number of options outside of the CBD. To keep them downtown is the latest validation of the continued transformation of Austina™s CBD into a 24-hour urban core that has the right balance of live, work and play.a

In 2010, Thomas Properties Group has maintained an average occupancy rate of 84 percent among its five downtown Austin properties, which total nearly 2.5 million square feet of class-A leasable office space. The company also handles the leasing for 816 Congress Ave., which has more than 433,000 square feet of class-A leasable office space. In addition to San Jacinto Center, Thomas Properties Group also owns, leases and manages the [ Frost Bank Tower ], [ One American Center ], [ One Congress Plaza ] and [ 300 West 6^th Street ] in downtown Austin.

About Thomas Properties Group

Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management and leasing activities. For more information about Thomas Properties Group, Inc., please visit [ www.tpgre.com ].

Forward-Looking Statements:

Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from Thomas Properties Group's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors That May Influence Future Results of Operations" in our 10-K for the year ended December 31, 2009, and contained in our reports on Form 10-Q for fiscal quarters during 2010, which have been filed with the SEC. Thomas Properties Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.