Insignia/ESG's Richard Economou, Michael Monahan, Silvio Petriello and Mark Ravesloot acted on behalf of sub-landlord, ING Clarion, in the three-year deal valued at an estimated $3.5 million, while John Ryan and Lloyd Desatnick of Jones Lang Lasalle acted for Bank of America.
"We had almost clinched a deal with a prominent law firm for the space," notes Ravesloot, "but at the last minute the bank decided it wanted to expand. A battle for the space actually ensued, but ownership expressed its strong desire to accommodate its existing tenant. It was rare, and reminiscent of better times, to find tenants competing for the same space in this sublease-heavy market."
Other tenants at the 1.1-million-sf property, also known as Bank of America Plaza, include ABM Amro, New York Life, Clarion Partners and Towers Perrin.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
