Hodgson Russ president and CEO Gary Schober says he understands why law firms typically don’t own real estate. In 2002 the Buffalo firm purchased the Guaranty Building, which was designed by famed architect Louis Sullivan and built before the turn of the twentieth century. “People said, ‘Congratulations, Schober. You own a building. The bad news is that you have a flood in your basement. What are you going to do about it?’ ” says Schober, recalling the first weeks the firm began to occupy its own space.
The purchase and subsequent $20 million renovation of the building marked a significant investment in downtown Buffalo and western New York, the city and region Hodgson Russ has called home since its founding in 1817. Hodgson Russ debuts as the first and only Buffalo-based firm on the Second Hundred this year, with gross revenue of $92 million and head count of 203. (It is also the only new firm on the Second Hundred this year.) “We all believe that we’ve inherited a great franchise around here,” Schober says. “Our job is to pass this business on to the next generation in at least as good a shape as we found it.”
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