An Insignia/ESG team led by Snezana Anderson represented Builders Group. Jim Searl and Bernhard Weinstabel also worked on behalf of the tenant. Insignia brokers Adam Foster, Brad Gerla and Jerry Friedman negotiated for building owner Capital Properties. Terms of the deal were not disclosed.
Anderson tells GlobeSt.com that Builders Group had stretched its Wall Street Court space to the limit. "They grew out of their space," she says. "They were on five floors and it was really inconvenient to grow on any more floors in that building."
The space at 115 Broadway was formerly leased to tech firm Plural, but Capital reclaimed the space. "The deal started out as a sublease but ended up being a direct deal with the owner," Anderson tells GlobeSt.com. Plural retains space on one floor of the building.
Built in 1907, 115 Broadway is a 21-story office property with 428,000 sf of leasable space. The asset has undergone major renovations and a full architectural restoration. Floorplates are roughly 19,000 sf throughout the building.
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