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GlobeSt.com UPDATE: Four Tenants Sign on at 75 Broad St.

NEW YORK CITY-Integrated communications provider Paetec takes 13,000 sf at 75 Broad St. in the largest of four recent signings totaling 25,600 sf. Owners JEMB Realty cite a return to traditional tenancy in the downtown market as the driving force behind a recent flurry of leasing activity in the building.

By Michael Gilliard | Updated on May 30, 2002

NEW YORK CITY-Integrated communications provider Paetec signs for 13,000 sf in the most recent of four leases totaling 25,600 sf in the newly renovated 675,000-sf office tower at 75 Broad St. Asking rents here at the property are in the neighborhood of $35 per sf, Raymond Chalmé, principal of building owner JEMB Realty, tells GlobeSt.com.

The additional three signings total 12,600 sf as several seasoned tech companies increase their space in the building. Royal Blue Technologies, a financial software supplier with offices in London, Tokyo and Hong Kong has signed a lease for 4,100 sf of built-out space on the third floor. The company has additional offices at 17 State St., also in Lower Manhattan. Jim Stein of Cushman & Wakefield brokered on behalf of the tenant, while Matt Leon and William Cohen of Newmark brokered for JEMB.

Internet connection provider IP-Only doubles its presence in the building, located at the corner of Broad and Water streets, with a 3,000-sf lease on the third floor, while electronic exchange provider Lava Trading Inc. has taken 2,500 sf, increasing its total space in the building to 7,500 sf. Additionally, Peer 1 Network, an Internet bandwidth provider, has taken 2,000 sf on the second floor. All three transactions were negotiated on both sides by JEMB.

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