Transatlantic Reinsurance Company will be taking six digits worth of square feet in Lower Manhattan.
The leading international reinsurance organization will be moving their global headquarters from 80 Pine Street to One Liberty Plaza. The new office will span 3 stories and 134,000 square feet.
“We are pleased to welcome the Transatlantic Reinsurance Company to One Liberty Plaza in Lower Manhattan,” said Jerry Larkin, a senior vice president and director of leasing in New York and Boston, in a prepared statement. “Given the high level of activity within our Lower Manhattan portfolio, we are optimistic that leasing momentum will continue through the beginning of 2013.”
The lease was set for 15 years.
A brokerage team from Cushman & Wakefield consisting of Robert Lowe and John Cefaly represented the tenant in the transaction. In-house broker Duncan McCuaig represented Brookfield Office Properties in the transaction. Brookfield Office Properties could not be reached for comment.
The 54-story building is one of the largest in the world with over 2,200,000 square feet. The vast floor plates are about one acre each, or about 45,000 square feet. The building remains over 98 percent leased with notable tenants like Cleary Gottlieb Steen and Hamilton, the Financial Industry Regulatory Authority, Zurich American Insurance and Royal Bank of Canada.
The building also features 20,000 square feet of retail space, currently occupied by a newsstand, Starbucks, and a Brooks Brother retail store.