PR Newswire Takes 34K SF at Brookfield Place
Press release distributor PR Newswire has inked a deal to move its offices from Hudson Square to Brookfield Place in the Financial District.
The communications company signed an 33,866-square-foot lease on the 19th floor at Brookfield Properties’ 200 Vesey Street, according to a broker involved in the deal. Asking rent in the 11-year deal wasn’t disclosed, but similar spaces in the building have asked $55 to $73 a square foot, according to information from CoStar Group.
JLL’s John Wheeler, Michael Berman, Paul Glickman and Clayton Kline represented the landlord in the transaction. Don Preate and Frank Coco, also of JLL, handled the transaction for the tenant.
“Brookfield is pleased to add this premier media content provider to the diverse tenant profile at Brookfield Place,” Wheeler said in an email to Commercial Observer. Preate and Coco didn’t immediately respond to requests for comment, nor did PR Newswire.
The 54-year-old company plans to relocate from 26,036 square feet on the third floor of 350 Hudson Street, where it has been headquartered for nine years.
Other major tenants in the 2.5-million-square-foot office building include American Express with 1.2 million square feet, RBC Capital Markets with 390,000 square feet, the U.S. Securities and Exchange Commission with 273,000 square feet, and financial firm Tullett Prebon with 125,000 square feet.