HAKS Adds 25K Square Feet at 40 Wall Street
Michael Ewing July 22, 2013, 10:45 a.m.
HAKS, a full service firm specializing in construction management, engineering, architecture and land surveying, will add 25,000 square feet to its lease at 40 Wall Street.
The firm currently operates 44,000-square-feet split between 34,000-square-feet on the 11th floor and 10,000-square-feet on the 4th floor. The firm will give back its space on the fourth floor in favor of 35,000-square-feet on the 9th floor, bringing their total occupancy to 69,000-square-feet.
The landlord will be building out the space on the 9th floor, slated to be completed in the fall.
“The motivation to expand is in line with our growth plan,” said Shahid Akhtar, chief financial officer of HAKS. “In the last five years we have grown on an average 20 percent or more, added new services and entered new markets. In the last 12 months we have hired over 100 employees company-wide.”
Mr. Akhtar also noted that the firm has been involved in several downtown projects including the Freedom Tower, Fulton Street Hub, and the east Houston Street Reconstruction, to name a few.
HAKS was represented by David Hoffman Jr., an executive managing director at Cassidy Turley, in the expansion. The landlord, the Trump Organization, was represented by a Cushman & Wakefield brokerage team of Jeffrey Lichtenberg and Jared Horowitz.
In addition to the expansion, HAKS will also be extending its lease. “The lease that was in place was due to expire at the end of 2020,” noted Mr. Hoffman. “Now the whole deal goes through fifteen years from now [in 2028]. We tacked on a significant term and the [Trump Organization] felt strong about that.”