Dewberry Engineers Inks 21K at 31 Penn Plaza
Michael Ewing Oct. 22, 2013, 11 a.m.
Dewberry Engineers is relocating its New York office to 31 Penn Plaza, the Commercial Observer has learned.
The professional services firm specializing in architecture, engineering, and management services has signed a 10-year deal to take a 20,958-square-foot office on the third floor of Savanna‘s building. With its relocation from 15 East 26th Street to 31 Penn Plaza, Dewberry now operates out of more than 20 offices throughout the United States.
Brian Reiver, director of leasing at Savanna and broker on the transaction, noted that the office space offers an open floor plan with high ceilings and large picture windows. Mr. Reiver negotiated alongside Chris Helgesen, a broker at DTZ that was brought in by Dewberry.
Savanna initially acquired 31 Penn Plaza in 2011 and promptly started its signature capital improvement program. Costing upwards of $25 million, the program revitalized many key features of the building and has drawn in several tenants.
“Dewberry was impressed with the recent capital improvements completed at the building, including a full lobby renovation, destination dispatch elevators, façade restoration and common area upgrades,” said Mr. Reiver. “In addition, the building now offers destination dining options with very good commutation options for their employees.”
The deal with Dewberry follows several other leases that have been signed recently at 31 Penn Plaza. Equinox‘s lower market Blink Fitness grabbed nearly 28,000 square feet on the second floor, CJS Builders took 7,417 square feet and RMJM, a UK-based architectural firm, took 5,085 square feet.
Of the 445,000-square-feet in 31 Penn Plaza, only 40,000-square-feet remain available. Savanna executives have been working to fill the building and have brought in more than 205,000 square feet of deals since the acquisition, 170,000-square-feet of those within the past three months.