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Summitt Systems Leases 35,000 SF at Global HQ

NEW YORK CITY-The displaced Downtown tech firm inks a short-term lease for 35,000 sf of turnkey office space and relocates its 185 employees within 24 hours.

By Glen Thompson | Updated on November 07, 2001

NEW YORK CITY-Network integration firm Summitt Systems has signed a 35,000-sf short-term lease at HQ Global Workplace in the venerated Woolworth Building. The displaced Downtown firm was able to move its 185 employees into the turnkey space within 24 hours of signing the deal.According to Hunter Realty Organization LLC corporate managing director Gregory Kraut, who brokered for the tenant, the 233 Broadway space has been leased for four and one-half months at roughly $1,000 per person. Office suites at HQ Global, which are usually occupied by individuals and small businesses, include telephones, fax machines, computers, desks and internet connectivity.”The rent is high but it would be more expensive to have 185 employees out of work and a lull in operations,” Kraut says. “Summit made a cost-effective decision when you consider the alternative. Moreover, with a short-term situation, Summitt is able to continue running its business while seeking the right permanent space.”Summitt’s former offices at 22 Cortland St. are no longer habitable following the World Trade Center attacks and the firm was looking for a single Downtown space that could accommodate its entire staff. The turnkey facilities at HQ Global allowed the tech firm to put its 185 employees back to work one day after signing the lease.

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