Academic Publishing House IGI Inks 4K-SF Deal at AmTrust’s 250 Broadway
By Isabelle Durso December 13, 2024 9:53 am
reprints
Academic publisher IGI Global Scientific Publishing is opening its first New York City office at AmTrust Realty’s 250 Broadway, Commercial Observer has learned.
IGI Global, which publishes academic research in the areas of business, science, technology and education, signed a 4,000-square-foot lease at the 30-story Tribeca office building, according to the landlord.
“As a well-regarded academic publisher, IGI Global Scientific Publishing is an exciting new addition to our tenant roster,” AmTrust President Jonathan Bennett said in a statement. “Their move to 250 Broadway is additional proof of the success we’ve had at elevating this office property for premier local and national commercial tenants.”
The length of the lease and asking rent were unclear, but a report from Newmark found office rents in Manhattan’s Tribeca and City Hall areas averaged $66.50 per square foot during the third quarter of 2024.
Newmark (NMRK)’s Aaron Winston brokered the deal for the tenant, while AmTrust’s Anne Holker and CBRE (CBRE)’s Brad Gerla, Michael Rizzo and Alex Benisatto represented the landlord.
Newmark declined to comment, while a spokesperson for CBRE did not immediately respond to a request for comment.
The deal represents IGI Global’s first location in New York City, after opening its headquarters in Hershey, Pa., and an office in Beijing, China, AmTrust said.
“Naturally, New York City as a hub of international business is a perfect place for [IGI Global] to have a presence, making it easier for its international partners to meet with the company’s leadership,” IGI Global CEO Mehdi Khosrow-Pour said in a statement.
“We are excited to establish our New York office at 250 Broadway, a building that offers all the technological resources and amenities to its tenants, as well as being in the heart of downtown New York City,” Khosrow-Pour added.
The 648,000-square-foot office tower on Broadway between Park Place and Murray Street is home to the offices of several government agencies including the New York City Council, New York City Housing Authority, New York State Assembly and New York State Senate.
Isabelle Durso can be reached at idurso@commercialobserver.com.
