Leases  ·  Office

Health Care Company Moves to MetroTech in Downtown Brooklyn


Managed health care provider Magellan Health is opening an office in Downtown Brooklyn.

The company has signed a five-year, 37,000-square-foot lease on the 11th floor of 15 MetroTech Center, according to new MetroTech landlord Brookfield (BN) Properties. A spokeswoman for Brookfield declined to provide asking rents in the transaction.

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The Arizona-based firm also has Manhattan offices at 90 William Street.

Elsewhere in the 16-acre office complex, energy efficiency financing firm Advanced Energy Capital renewed a five-year 2,000-square-foot lease on the third floor of One MetroTech.

Jamie Smith, Joe Cirone and Helen Paul of Cushman & Wakefield represented Magellan in the deal and declined to comment via a spokesperson. Robert Isaacs of RHI Group LLC represented AEC. And Ali Esmaeilzadeh, Jesse Cooperman, and Alex Liscio handled the transaction in-house for Brookfield.

“Last year, Brookfield acquired Forest City Realty Trust, making Brookfield New York’s largest commercial real estate owner,” Esmaeilzadeh said in a statement. “With that acquisition, Brooklyn’s premier commercial destination MetroTech joined Brookfield’s portfolio and has seen an increase in leasing activity.”

Brookfield purchased Forest City for $11.4 billion in December, including the five-million-square-foot, 11-building MetroTech complex by Flatbush Avenue and Jay Street in Brooklyn.