40,000 s/f downtown expansion announced.CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. has arranged a 93,727 s/f lease at 120 Broadway Broadway, famous thoroughfare in New York City. It extends from Bowling Green near the foot of Manhattan island N to 262d St. in the Bronx. Throughout its length Broadway is chiefly a commercial street. on behalf of Tower Group, Inc., an insurance company. The insurance practice extended its total lease agreement for 15 years and is expanding by 40,000 RSF RSF RSF (Rudolph Steiner Foundation) Social Finance RSF Reporters Sans Frontières (French: Reporters Without Borders) RSF Reporteros Sin Fronteras (Spanish: Reporters Without Borders) and relocating its occupancy within the Class A, Downtown Manhattan office tower. The CB Richard Ellis team of Mark Ravesloot and Scott Sloves arranged the lease expansion and extension on behalf of Tower Group. Cathy Gilberti of Silverstein Properties acted on behalf of the ownership. "This transaction reaffirms Tower Group's commitment to Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North , where the company has been headquartered since 1990," said Mr. Ravesloot. "We were very pleased that 120 Broadway was able to accommodate our client's expansion needs in a way that provided them with flexibility for future growth." Tower has grown rapidly over the past eight years, necessitating a number of expansions since its original 22,000-square-foot commitment on the 14th floor at 120 Broadway. The insurance firm will now occupy new space at the office tower's 30th and 31st floors. Situated on an entire blockfront between Pine and Cedar cedar, common name for a number of trees, mostly coniferous evergreens. The true cedars belong to the small genus Cedrus of the family Pinaceae (pine family). Streets in the heart of Downtown Manhattan, 120 Broadway is a 1.8-million-square-foot, 40-story property built in 1915. In addition to Tower Group, other major tenants at the property include Banco Popular, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Attorney General's office, Securities Industry Association and the National Securities Corporation. |
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