DMJM Harris will occupy the entire 13th, 14th and 15th floors of the 57-story office tower. The space was previously occupied by Web site design firm Agency.com, which agreed to a price per sf "in the low $30s," according to Newmark & Co. Real Estate Inc. executive managing director Stephen J. Schofel. Scott Etess and David Anderson, also of Newmark, worked with Schofel in representing DMJM Harris. Lee Feld of WF Realty and Frank Cento of Cushman & Wakefield represented Agency.com in the transaction.
According to Schofel, the engineering firm chose to relocate Downtown for its vitality and its value. "They very much wanted to be a part of the reinvigoration of the Downtown business community," he tells GlobeSt.com. "Secondly, Lower Manhattan offers great value. We're really paying about 40% less than what comparable space in Midtown would cost."
Agency.com, which builds Web sites for Fortune 500 firms, was also able to offer move-in-condition space at the 723,455-sf prewar building. "This space was totally built out and, amazingly, the deal was finalized on a Tuesday and they began moving in on Wednesday," Schofel tells GlobeSt.com.
"Transportation and infrastructure development is our business and we feel strongly about being Downtown in the heart of the rebuilding and redevelopment efforts," said Fred Werner executive vice president and COO of DMJM + Harris. "We anticipate creating 250 to 300 new jobs in Downtown Manhattan with this move."
DMJM Harris is relocating a major force of engineers, consultants and construction managers to the Exchange Place space. The unit will oversee a number of Downtown rebuilding projects including the Hudson River Park, Whitehall Ferry Terminal and the Second Avenue subway, among others.
Newmark & Company Real Estate, Inc., founded in 1929, manages and/or leases 46 million sf of commercial space, including a nine-million-square-foot portfolio owned by its principals.
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