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71,000-SF Lease Secured at 799 Broadway

NEW YORK, NY – Independent investment management firm Wellington Management has signed a 71,000-square-foot lease at Columbia Property Trust’s newly-constructed office building at 799 Broadway in Manhattan.

With the 16.5 year lease, Wellington will occupy four full floors of the 182,000-square-foot, ground-up development, and it will become the building’s largest occupant. The lease additionally represents the Boston-based firm’s first New York office. The space will feature 15-foot ceiling heights, five private terraces totaling 7,600 square feet and floor-to-ceiling windows.

Columbia Property Trust has now secured leases for nine floors of the 12-floor building. At the 70%-leased property, in addition to Wellington, investment firm Bain Capital Ventures has signed a full-floor, 9,000-square-foot lease; national mortgage lending and servicing organization New Residential Investment Corp. has signed a two-floor, 25,000-square-foot lease; and an undisclosed tenant has signed a lease for two additional floors.

Located at the convergence of the Greenwich Village and Union Square neighborhoods, the LEED Gold certified building features 15-foot ceiling heights and floor-to-ceiling glass windows. The property offers a luxury fitness center, locker rooms, a cellar lounge, a bike room and more than 17,000 square feet of outdoor space, including private outdoor terraces and a courtyard garden.

Developed using sustainable new construction, 799 Broadway offers efficient systems and touchless access throughout, as well as UV light sanitation and bipolar ionization systems for optimal indoor air quality and air purification. The property was designed to meet the criteria of the WELL Building certification program and it has additionally been awarded a Fitwel 2-Star rating for incorporating evidence-based design and operations strategies to support the physical, mental and social health of occupants.

“We are very pleased to welcome Wellington Management to 799 Broadway,” says Dave Cheikin, East Coast EVP at Columbia Property Trust. “We built 799 Broadway to provide the highly attractive environment necessary to enable high-growth, forward-leaning companies, like Wellington, to engage and motivate superior talent in today’s environment.”

"We are excited to expand our North American footprint by committing to 799 Broadway as an investment in our future of work,” states Ed Steinborn, CFO of Wellington Management. “We take pride in creating magnetic office space for our employees and believe 799 Broadway’s state-of-the-art facility will offer both New York-based and global employees an accessible, sustainable office space for colleagues to connect and collaborate in. New York remains a hub for talented, diverse financial professionals, and we look forward to continuing to support the growth of Wellington’s strategic initiatives by expanding in New York City.”

For the lease negotiations, JLL’s Mitchell Konsker, Benjamin Bass and Sam Seiler represented Columbia Property Trust, and JLL’s Steven Rotter, Randy Abend, Gabrielle Harvey, Brendan Callahan and Lauren Calandriello represented Wellington.
Reprinted with permission from the Thu, 19 May 2022 04:18:07 EDT online edition of GlobeSt © 2022 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or reprints@alm.com.