The NASD is currently located in a smaller space at 525 Market St. The company will relocate to its new digs in the middle of One Montgomery during the fourth quarter, after tenant improvements are completed.
Studley's Jacque Ducharme and Matt Hart represented the NASD. Chris Roeder and Peter Victor of Cushman & Wakefield represented the building owner, Post Montgomery Assoc.
Roeder tells GlobeSt.com that other than one 6,000-sf space One Montgomery is fully leased until 2008, putting it well ahead of the pack. Average class A vacancy in the CBD is currently running just over 11%.
Roeder declined to discuss the negotiated lease rate. The asking rate for the space was in the low $40s, including an undisclosed tenant improvement allowance. "With other securities firms in it, our building is pretty well suited for them," says Roeder.
One Montgomery Tower is the headquarters location for securities broker Charles Schwab, which occupies over half of the building, and investment bank Thomas Weisel Partners. Other tenants include Wells Fargo, UBS and First Albany Corp. The space the NASD will occupy was space previously leased by Charles Schwab.
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