Non-Profit Finds New Home at 111 Broadway
Gus Delaporte April 9, 2013, 3:30 p.m.
The Community Health Care Association of New York State (CHCANYS) has signed a 10-year lease for 7,391 square feet on the 14th floor of 111 Broadway, The Commercial Observer has learned. Asking rent for the deal, which was signed in March, was $35 per square foot.
The non-profit, which is currently headquartered at 535 Eighth Avenue, supports community health centers in New York. The organization’s future space at 111 Broadway is currently undergoing a renovation, which is being handled by the landlord, Capital Properties.
“[CHCANYS] was looking to improve their rent and for a more efficient space that works better for their employee base,” Ellen Herman, executive vice president of the non-profit group at Jones Lang LaSalle, told The Commercial Observer. The space at 111 Broadway is similar in size to the non-profit’s current headquarters, but can accommodate more people, Ms. Herman noted.
Ms. Herman, Janet Woods and T.J. Hochanadel, all of JLL represented the tenant. The landlord was represented by CBRE through Brad Gerla, Adam Foster, Mike Rizzo and Sam Spillane.
The building is appealing due to its proximity to both transportation and the base of the new World Trade Center site.
“It sits right on Broadway and we have been very aggressive [with leasing,]” Mr. Gerla said. “We have gotten a bunch of deals done.”
CBRE represents Capital Properties as leasing agent for both 111 and 115 Broadway. Currently, there are leases pending on 35,000 square feet of space in the buildings.