Fitch Ratings lease could be sign of a turnaround in financial sector.Lackluster leasing activity in the corporate and financial sectors has been one of the most visible signs of the sluggish economy Sluggish Economy A state in the economy in which the growth is slow, flat or declining. The term can refer to the economy as a whole or a component of the economy, such as weak housing starts. . Recent movement in these sectors, though, is signaling a turnaround and brighter economic times. Exemplifying this change, Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has signed an 11-year, 66,256-square-foot lease at Broad Financial Center in Downtown Manhattan. The CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) team of Edward Goldman, Executive Vice President, Stacey Fabrikant, First Vice President and Howard Bressler, Vice President, negotiated the transaction on behalf of the building ownership, Broad Financial Center, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Mitchell Barnett, Executive Director, and Curtis Brown, Associate Director, of Cushman and Wakefield represented Fitch in the negotiations. "The repositioning of Broad Financial Center has been a tremendous success since the former namesake tenant, NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , vacated and as the events of 9/11 unfolded. During the past two years, over 130,000 square feet of new leases have been completed in the building," said Mr. Bressler. "Broad Financial Center exemplifies a classic boutique building and its stellar tenant roster and hands-on ownership and management made it the perfect choice for Fitch Ratings." The property, located at 33 Whitehall Street, features a magnificent atrium lobby, glass and steel construction and unobstructed views of the New York harbor New York Harbor, a geographic term, refers collectively to the rivers, bays, and tidal estuaries near the mouth of the Hudson River in the vicinity of New York City. This is sometimes construed in the sense "the Ports of New York and New Jersey". . Fitch Ratings is headquartered nearby at 1 State Street Plaza where the firm occupies 160,000 square feet. "When we recognized our need to expand, we found that the close proximity of Broad Financial Center to our headquarters as well as the open floor plates and state-of-the-art technological infrastructure at the property ideally suited our requirements," said David Kennedy, CFO See Chief Financial Officer. of Fitch Ratings. "We are extremely pleased to welcome a tenant of Fitch Ratings' caliber to Broad Financial Center," said Faith Ryan of Broad Financial Center, LLC. "The convenience and high quality of our building fully addressed Fitch's expansion need. Both Landlord and Tenant will benefit by giving Fitch signage rights and further expansion rights in the building. It is also wonderful to know that Broad Financial Center and Fitch are a part of Downtown's re-growth, expanding the city's workforce." |
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