NEW YORK CITY—A Jersey City-based financial services firm is moving across the Hudson River to Lower Manhattan. The publicly traded KCG Holdings has signed a 15-year lease for 169,000 square feet at 300 Vesey St., where asking rent in the deal was $70 per square foot, according to the Commercial Observer. Formerly One North End Ave., the 15-story building is owned by Brookfield Office Properties and is part of the Brookfield Place complex.
The lease puts Brookfield Place in a great position, Jerry Larkin, Brookfield Property Partners EVP and director of leasing, US office division, tells GlobeSt.com. “The deal further solidifies Brookfield Place as the premier office location in the tri-state area and brings overall occupancy close to 100% with only two of the best blocks of space in Manhattan available within Brookfield Place.”
In the move, KCG will occupy part of the 12th floor and the entire 13th through 15th floors of the 15-story building by the end of 2016. KCG has about 260,000 square feet of space at 545 Washington Blvd.—which is part of the LeFrak Organization's Newportmixed-use complex—on the Jersey City waterfront. The new space at 300 Vesey, which is a few blocks west of the World Trade Center, can accommodate more than 700 employees, a KCG spokeswoman tells the Observer.
JLL's Derek Trulson and Michael Shenot advised both the landlord and the tenant in the deal. CME Group, which owns NYMEX, sold 300 Vesey St. to Brookfield for $200 million in November 2013. NYMEX is the only other tenant in the building. JLL did not respond to GlobeSt.com's request for comment by press time.
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