Law Firm Edelman & Edelman Moving to 10K SF at 60 Broad
By Mark Hallum August 20, 2024 3:42 pm
reprints
A major construction injury and civil litigation law firm is going from Broadway to just Broad, but that doesn’t mean the tenant is losing its “way,” Commercial Observer has learned.
Edelman & Edelman signed a 10-year, 10,000-square-foot lease to move its offices from 61 Broadway to the 29th floor of Piedmont Office Realty Trust’s 60 Broad Street, according to landlord broker JLL (JLL).
Asking rent was in the high-$50s per square foot range, JLL said.
“This transaction is a testament to 60 Broad’s effort to distinguish itself as a premier destination for tenants that prioritize employee experience,” Robert Wiberg, Piedmont’s executive vice president for the Northeast, said in a statement. “Quality space remains the most significant driver of leasing momentum in the current market.”
John Wheeler, Robin Olinyk and Thomas Swartz of JLL represented Piedmont in the deal while CBRE (CBRE)’s Rob Wizenberg handled negotiations for Edelman & Edelman. CBRE did not immediately respond to a request for comment.
Other tenants in the building include digital marketing company Skai, with 13,273 square feet on the 33rd floor, and financial services firm Wellington Shields, with 9,575 square feet on the 39th floor. Both companies signed their deals in mid-2024.
Its larger tenants include the New York City Department of Citywide Administrative Services, which leased 308,769 square feet in 2021, and the New York State Office of General Services, which took 452,000 square feet in 2020.
The 39-story, 1960s building had 100,000 square feet of vacant space on its upper floors in early 2023 but is now 90 percent leased after a redesign by Piedmont, according to JLL.
Mark Hallum can be reached at mhallum@commercialobserver.com.
