Peter Riguardi, who heads the leasing team for 40 Rector, tells GlobeSt.com, "We're very enthusiastic about the amount of interest we've seen." Much of the attention has come from service companies, government agencies and not-for-profits, adds Riguardi, president of the New York tri-state region at JLL.
Through the JLL team, Philips is marketing 40 Rector as representing one of the largest blocks of contiguous space available Downtown, with floor plates of 33,000 square feet. It also affords prospective tenants an opportunity to lease the entire building, including corporate signage.
In a release, Riguardi cites the property's visibility from the West Side Highway as a branding opportunity for a full-building tenant. He adds that its rents are "significantly more competitive" compared to Midtown. Riguardi declines to give GlobeSt.com specifics on asking rents at 40 Rector.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
