Best Lease - Second Place
Property: Brookfield Place, 250 Vesey St., New York City2014 Distinguished Achievement Awards: The Winners (Extended Edition)
Landlord:Brookfield Office Properties
Brokers:Mitch Steir, Matt Barlow and David Goldstein of Studley represented Jones Day; Jerry Larkin and David Cheikin of Brookfield represented the owner in house.
Lease Size:330,000 square feet
Property Size:8.5 million square feet in five buildings
The Story:Brookfield Office Properties attracted law firm Jones Day to move to Brookfield Place in Lower Manhattan from Midtown. The lease, of the top eight floors of the property, took up a portion of the 4.6 million square feet formerly occupied by Bank of America/Merrill Lynch and helped drive leasing momentum for the complex. Several large leases followed, with a total of 1.2 million square feet signed last year. Brookfield has sought to diversify its tenant base in the property, and spent $250 million to reposition its retail and common areas, including opening 14 fast-casual eateries and six sit-down restaurants, a waterfront marketplace and a curated collection of more than 30 luxury and aspirational retailers.
Judges Praised:Surmounting the challenge of getting a major law firm to move from Midtown to Downtown, satisfying the tenant while contributing to the landlord’s strategy. Brookfield’s history as a strong competitor.
Submitted By:Brookfield Office Properties
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