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JLL's nearing a deal to open its first Brooklyn location at RXR Realty’s 47 Hall St.
The deal isn’t finalized, but the global brokerage firm is expected to be in the new space within 12 to 18 months. RXR bought the 666k SF former industrial building with Westbrook Partners in March for $161M, and is converting the building into an office, the Commercial Observer reports.
JLL will be the most recent Manhattan brokerage to open a Brooklyn office. Cushman & Wakefield, for example, obtained Massey Knakal Realty Services’ Montague Street HQ when it acquired Massey Knakal in 2014, but eventually abandoned the space when it moved to the 15k SF 1 Pierrepont Plaza.
In July, Newmark Grubb Knight Frank opened an office at 55 Prospect St in Dumbo, and ABS Real Estate Partners—which handles Brooklyn deals from its 200 Park Ave S office—opened a new HQ at 99 Scott Ave in Bushwick. Of course, brokerages like CPEX have been in Brooklyn all along. [CO]
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