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Insurer Renews, Expands to 72,000 SF

NEW YORK CITY-Arch Insurance Group is adding nearly 20,000 square feet to its existing space at Brookfield Properties' One Liberty Plaza.

By Paul Bubny | Updated on December 07, 2009

NEW YORK CITY-Arch Insurance Group has renewed and expanded its offices at Brookfield Properties’ One Liberty Plaza, for a total of 71,827 square feet. The deal is for 10.5 years; terms were not disclosed.

Mark Ravesloot, EVP of CB Richard Ellis, says in a release that “it is exciting to see a leading insurance company like Arch Insurance Group recommit to Downtown.” Ravesloot represented the specialty insurer along with EVP Mike Monahan and SVP Scott Sloves of CBRE’s New York office along with EVP Paul Jacobs and SVP Colin Reilly of CBRE’s Stamford office. Brookfield provided in-house representation.

Arch took a 19,781-square-foot expansion at One Liberty, and also renewed its lease for 47,597 square feet on the 53rd floor and 3,909 square feet in the building’s concourse. Built in 1973, the 54-story, 2.3-million-square-foot One Liberty is bordered by Broadway, Church Street, Cortland Street and Liberty Plaza. Its leading tenants include Cleary Gottlieb Steen and Hamilton, the Financial Industry Regulatory Authority, Zurich American Insurance and Royal Bank of Canada.

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