In a 10-year deal worth about $3 million, POVA will occupy the 23rd floor in 1000 Broadway next March. The 12,000-sf space is a portion of the space being vacated by Paine Webber, which is moving two blocks north to the new Fox Tower.
POVA offices are currently located in Three World Trade Center. It's lease on the space runs out in September 2001. It's visitor information center, across the street from existing offices, will move to space underneath the fountain at Pioneer Courthouse Square next summer, a POVA source tells GlobeSt.com.
The move to 1000 Broadway is for more and better-designed space. As a bonus, Paine Webber is leaving behind much of the furniture it purchased to match the "very nice" tenant improvements it made to the 1000 Broadway space its vacating, says the source.
The relocation of the visitors' center, albeit a more centralized location, is being to keep it close to POVA offices. The information center will be where all the organization's collateral is stored, so the closer the better.
Tom Remley of Grubb & Ellis represented 1000 Broadway in the office lease. In one of his last deals with Cushman & Wakefield, Chris Elsenbach, who has since left for CRESA Partners, represented POVA.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
