Contact Us
News

FLIGHT TO QUALITY

FLIGHT TO QUALITY
If there’s a silver lining for anyone in today’s market, it’s for tenants.Declining rents and ample dispositions now offer a flight to quality and opportunities in spaces that may not have been possible before. We found one such deal—140k SF of contiguous space in the trophy 7 World Trade Center, likely the only Class A+ office sublet of that magnitude available downtown. We dropped in on Grubb & Ellis subleasing agents Barry Lewen and Joe Harkins to find out more.
FLIGHT TO QUALITY
ABN AMRO inked a deal with Silverstein before RBS acquired the firm. Now the investment banking staff who would have occupied the 30th, 31st and 32nd floors of 7 WTC are moving to new RBS digs in Stamford , Conn—leaving this space open for sublease until 2022. Barry and Joe won’t divulge the asking rent, but say it’s 50% cheaper than comparable trophy space in Midtown.
FLIGHT TO QUALITY
The LEED Gold property has new safety standards, and features 10-foot finished ceilings, column-free floors, 360-degree views and modern HVAC and electrical systems. It also has dedicated fuel and generator infrastructure in place, extra power, and provisions for a venting system that would allow a full kitchen. It’s also close to 15 subway lines , PATH, ferries and 24/7 amenities from TriBeCa to Battery Park City.
FLIGHT TO QUALITY
Joe has been involved with 7 WTC (second to right) for a long time. After 9/11, he spearheaded the emergency procurement for the SEC to move from the prior 7 WTC to the Woolworth Building (later repping the agency to 3 World Financial Center). The execs tell us they’ll soon be marketing another cache of downtown space, but they’ll only hint it’s another “lucky #7.” (Poke Joe and Barry to see if you can get it out of them.)
FLIGHT TO QUALITY
The duo has returned from a busy holiday: Joe celebrated Thanksgiving in“Brady Bunch” fashion with his two children,his girlfriend and her three kids, and his family. Barry’s two college-aged kids came home for turkey, with one making themomentous first trip from freshman year.
WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé
Combined Properties
Greg Trimmer
JBG SMITH
Alex Nyhan
First Washington Realty