Maritime Insurance Firm Gard Renews 8K-SF 40 Fulton Street Offices
By Mark Hallum May 3, 2023 4:30 pm
reprints
This Financial District landlord isn’t dropping its Gard.
Maritime insurance company Gard North America has renewed the lease for its 8,210-square-foot office at Fulton & Pearl Holding’s 40 Fulton Street for an additional 10 years, according to tenant broker Cushman & Wakefield (CWK). Asking rent was around $50 per square foot.
The Norwegian-based Gard — which has more than 550 offices around the world — has been on the 16th floor of the 29-story building since 2013.
“Gard North America believes in the importance of the office and the Downtown market where it has been for decades,” C&W’s Aron Schreier, who represented the tenant alongside Max Mond and Carlisle Wheeler, said in a statement. “Gard’s long-term commitment to 40 Fulton Street is proof of both.”
Bruce Surry and Sam Spillane of CBRE (CBRE) brokered the deal for the landlord. A CBRE spokesperson did not immediately respond to a request for comment.
Other tenants in the building include Fortune Media, which signed 43,352 square feet in March 2019 when the building was owned by Vornado Realty Trust, and ad agency Terri & Sandy, which leased 8,233 square feet May 2021.
Fulton & Pearl Holding purchased the building in December 2022 for $101 million, according to property records.
Mark Hallum can be reached at mhallum@commercialobserver.com.
