CRE Investor Basis Relocating Offices to 180 Maiden Lane
By Nicholas Rizzi June 27, 2023 5:22 pm
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Commercial real estate investment platform Basis Investment Group (BIG) will relocate its headquarters within the Financial District to 180 Maiden Lane, Commercial Observer has learned.
BIG inked a deal to relocate from 75 Broad Street to 10,091 square feet on part of the 32nd floor of the 41-story office tower just off the FDR Drive, according to landlords Clarion Partners, LaSalle Investment Management and Banyan Street Capital.
The landlords declined to provide the length of the lease at 180 Maiden Lane.
BIG was founded in 2009 by CEO Tammy Jones and has made nearly $4 billion in CRE debt and equity investments since, recently investing $30 million of equity in Tishman Speyer’s 3.1-acre mixed-use development in Santa Monica, Calif., according to its website.
Aside from the deal with BIG, the landlords also signed a deal with engineering consultant Walter P Moore to relocate from the eighth floor of 180 Maiden Lane to 11,719 square feet on the 32nd floor, according to the landlords.
The Houston-based Walter P Moore has been in the property since 2016, and its new deal will add 2,193 square feet to its footprint.
Meanwhile, small business lender Royal Funding Group expanded by 2,008 square feet in the property to 6,575 square feet on the 10th floor.
Asking rents in the leases ranged from $58 to $65 per square foot.
“Despite the challenges in the office market, 180 Maiden has emerged as a top destination for the next era of office space,” Joshua Mandelberger, vice president of Clarion Partners, said in a statement. “The building’s waterfront location and proximity to Pier 17, along with its new high-end pre-builts and comprehensive amenity upgrades currently underway, make it the perfect place for tenants seeking a more experiential business environment backed by strong institutional ownership.”
Cushman & Wakefield (CWK)’s Tara Stacom, Justin Royce, Frank Cento and Connor Daugstrup represented the landlord in all three deals along with JLR Realty’s Jesse Rubens.
Shawna Menifee of Integrative Partners handled it for Basis; C&W’s Trey Strake, Rob Lowe and Nicholas Dysenchuk brokered the deal for Walter P Moore; and Travis Egenberg of Norman Bobrow & Company represented Royal Funding.
Egenberg and a spokesperson for C&W declined to comment. Menifee did not immediately respond to a request for comment.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
