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Agent named for 67 Broad.

Galbreath Riverbank L.P. has been awarded the exclusive management and leasing agency for 67 Broad Street by owner Principal Mutual Life Insurance Company, member company of The Principal Financial Group. The principal recently gained control of the property and will soon announce plans for physical upgrades of the property in order to re-position it in the marketplace. Peter E. Ricker, president and CEO, and Bruce E. Mosler, vice chairman, made the announcement for Galbreath Riverbank.

"The Principal's selection of Galbreath Riverbank underscores our position as the firm of choice for institutional ownership, demonstrated by our ability to meet the demand for service intensive efforts on behalf of clients," said John B. Thompson, Galbreath Riverbank managing director who will serve as 67 Broad Street's exclusive agent.

Also known as the World Communications Building, 67 Broad Street rises 35-stories and includes 600,000 square feet of space. The prominent office tower is situated between Beaver Street and South William Street and is home to IDB/World Communications Inc., T and Sun Life Insurance.

The Principal Financial Group bring financial stability to 67 Street, along with the necessary capital to modernize and prepare the tower for leasing into the next century.
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Title Annotation:Galbreath Riverbank appointed management and leasing agent for office tower at 67 Broad Street, New York, New York
Publication:Real Estate Weekly
Date:May 19, 1993
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