ESG tapped to lease MetroTech.The Edward S. Gordon Company, Inc. (ESG ESG Enterprise Strategy Group (Veritas) ESG Emergency Shelter Grant (Florida, USA) ESG Expeditionary Strike Group ESG Electronic Service Guide (used in DVB) ) has been retained to spearhead the leasing efforts for the final phase of commercial development at MetroTech Center in Brooklyn. The announcement was made jointly by Bruce Ratner Bruce Ratner (born January 23, 1945 in Cleveland, Ohio) is president and CEO of Forest City Ratner, the New York division of Forest City Enterprises, which is based in Cleveland. Ratner was New York City's most active real estate developer during the 1990s. , president and chief executive officer of Forest City Ratner Companies, developer of MetroTech Center, and Stephen B. Siegel, president of ESG. MetroTech Center, the $1 billion commercial, academic, and high-technology office complex, has been the centerpiece of the redevelopment of Brooklyn's downtown business district. It has established a position as the leading low-cost, high-tech data and operations center The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. facility within New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . "We are proud to be associated with MetroTech Center, one of the great urban redevelopment success stories, and look forward to working with Forest City Ratner Companies to enable the commercial development to achieve an even higher level of success," said Siegel. "MetroTech Center is a project that all of 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 can be proud of." Since Forest City Ratner Companies initiated development in 1988, MetroTech Center has grown to encompass six buildings situated throughout the 16-acre campus located in the Borough Hall section of Brooklyn. Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. , Brooklyn Union Gas Company, the Securities Industry Automation Corp. and Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. are among companies with substantial operations housed there. The next phase of development will consist of two high-tech office buildings to be built upon signing of major tenants, totalling more than 1.8 million square feet. Forest City Ratner Companies is currently constructing a 216,000 square-foot build-to-suit data facility for the New York City Computer Data Communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. Agency (CDCSA) at the site. "MetroTech Center is widely regarded as one of the preeminent high-tech urban office developments in the region, and is unsurpassed in its ability to meet the most sophisticated requirements - now and in the future - of today's technology intensive operations centers," said ESG Managing Director Bruce Surry, who will head the marketing and leasing efforts under the supervision of Ray O'Keefe, executive director and head of ESG's Downtown Manhattan office. The two planned buildings - Nine and Twelve MetroTech Center - will offer exceptionally large floorplates, up to 55,000 square feet, floor-to-ceiling heights as high as 15 feet, and large column bays in order to provide for high-tech tenant installations. The many companies that have elected to locate facilities at MetroTech Center have found the economic advantages to be compelling. As-of-right financial incentives, designed to encourage companies to relocate to Brooklyn, total as much as $7.50 per square foot, and include: * Substantial reductions in energy costs -- as much as 37 percent in electricity and 20 percent in natural gas; * Abatement of the 6 percent city commercial occupancy tax for 12 years, and thereafter, a reduced rate of 4.2 percent; * Exemption from real estate taxes on improvement for 12 years, and then a phase-in of taxes on improvements over the next 10 years at a rate of 10 percent per annum Per annum Yearly. ; * A $500 per employee tax credit for 12 years. Beyond the financial incentives, MetroTech Center is also conveniently located at the hub of the Brooklyn business district. Situated at the Jay Street/Borough Hall subway station just two stops from 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 the campus is accessible via all three major subway lines. Moreover, the presence of three universities - Polytechnic University's Brooklyn campus within MetroTech Center and Long Island University's Brooklyn campus and City Technical College located adjacent to the MetroTech Center site - assure the availability of a highly skilled labor force. Polytechnic is rated among the top 10. |
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