Leases  ·  Office

Commerzbank Subleases 255 Liberty Street Space to IT Company Virtusa


German company Commerzbank AG has subleased part of its Lower Manhattan offices to global IT services firm Virtusa Corporation, the brokers in the deal told Commercial Observer.

Virtusa signed a 10-year deal to take over 43,000 square feet of Commerzbank’s offices at 225 Liberty Street, according to The Real Deal, which first reported news of the deal.

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The IT firm will occupy the entire 34th floor of Brookfield Property Partners’ 44-story building, formerly known as 2 World Trade Center, a JLL spokesman confirmed.

JLL’s Daoud Awad and Scott Cahaly represented Commerzbank in the deal. It wasn’t immediately clear who represented Virtusa in the deal. Asking rent for the space was not available at publication time, but other floors in the building have an estimated rent of $72 to $88 per square foot, according to CoStar (CSGP) Group.

Virtusa did not respond to a request for comment for the story.

This will be Virtusa’s third office in Manhattan as the company also has space at 14 Wall Street and 370 Lexington Avenue. It will join other tenants at 225 Liberty Street like Time, Inc. and J. Crew.

Commerzbank first took office space inside 225 Liberty Street in the 1990s and last renewed its 175,000-square-foot space in 2011. Last month, the company was reportedly in talks to merge with Deutsche Bank (DB) AG.