The firm has shifted some of its operations to its new space on the second floor, Greenberg tells GlobeSt.com, with the remaining operations scheduled to move into the building by the end of the year. "What is unique about this space is that it is fully built out with work stations, which means the tenant doesn't have to do any fit-out or improvement work. All the equipment was already there, which actually was key to the deal."
Another factor that sold Simplexity on the space was the floor layout, Wolf tells GlobeSt.com. "With everyone on one floor, operations are more efficient. The square footage they are using now is 20% to 25% per employee less than before." All together, he adds, the firm has cut its space usage by 15% with the consolidation. There will be 300 employees occupying the 47,505 sf.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
