Barclays Renews 108,750-SF Lease at 222 Broadway

NEW YORK CITY-Barclays PLC has re-upped its lease at 222 Broadway in a $20-million deal that may be the largest Downtown renewal since Sept. 11. Sources involved in the deal say the UK-based financial services group’s decision to retain its three-floor space is largely due to building owner Merrill Lynch’s fast work in getting the 750,000-sf property back in shape following the World Trade Center attacks.

“Merrill Lynch saved Barclays a lot of money by not having to vacate that space,” says Cynthia Wasserberger, a director with Colliers ABR, the 32-story tower’s leasing and managing agent. “They were very proactive about getting the building operational again.” Wasserberger, Colliers vice chairman Peter Riguardi and executive managing director Robert Flippin represented Merrill Lynch in arranging the four-year renewal.

Barclays occupies 104,550 sf on three floors of the Downtown property as well as 4,200 of basement space. While details of the lease have not been released, asking rents in the building are in the low $40s.