Two Online Market Platforms Sign on at 123 William Street, Building Nearly Full
By Terence Cullen January 19, 2016 11:37 am
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The 27-story 123 William Street is almost completely leased, according to brokers for the building between John and Fulton Streets.
American Realty Capital signed leases with two different tenants for a combined 17,213 square feet of the 550,000-square-foot Financial District building last month, according to a CBRE press release. That has pushed the occupancy almost to 100 percent, less than a year after the landlord bought the property.
“With the signing of these two tenants, we are now 99 percent leased,” Brad Gerla of CBRE, who represented American Realty Capital in both deals with colleague Jonathan Cope, said in a statement to Commercial Observer. “123 William Street continues to dominate, and is unquestionably the hottest building Downtown.”
Fundera, an online small business lender, signed a deal for 9,467 square feet on part of the 21st floor, according to the brokers. They declined to indicate when the e-financier will move into the space, or from where it’s moving its offices.
Asking rent in the 10-year deal was $62 per square foot. Wayne Siegel of Coldwell Banker Commercial Alliance represented Fundera. A representative for the brokerage did not immediately return a request for comment.
Online car-selling platform automotiveMastermind inked a lease for 7,746 square feet on a portion of the 15th floor, according to the CBRE release. Joseph DeRosa of Transwestern represented the tenant. Mr. DeRosa was not immediately available for comment, per a Transwestern spokeswoman.
Asking rent in that deal was $58 per square foot, and is also for 10 years.
American Realty Capital announced last February that it was buying the 59-year-old office building for $253 million, as CO previously reported. The structure was 81 percent leased at that time.
Since last winter, the landlord has signed reproductive education group Planned Parenthood to 65,000 square feet in a relocation from the Far West Side, as CO reported in April 2015. Four months later, the Rent Stabilization Association, a landlord’s advocacy group, relocated within the building for 17,811 square feet on the 12th floor. The organization had previously occupied a similarly sized space on the 14th floor.
