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Computer giant commits to long term lease at 3WFC.

In yet another sign of a re-energized Downtown Manhattan market, Computer Generated Solutions, Inc. (CGS), a 20-year old privately held provider of system integration, software, training, technical help desk solutions, and managed services, has committed to a 40,265-square foot ten-year lease at Three World Financial Center.

The firm will relocate and expand its world headquarters, currently comprising 37,000 square feet of space at 1675 Broadway in Midtown, by the first quarter of 2005. CGS will occupy the entire 27th floor of the 2.1 million-square-foot office tower located in the heart of Downtown Manhattan. Brookfield Properties owns 1.1 million-square feet of Three World Financial Center.

The CB Richard Ellis team of Michael R. Laginestra and Stephen Eynon represented CGS in direct negotiations with Dennis Friedrich, Michael Berman and David Cheikin of Brookfield Properties.

"This is truly a win-win situation. CGS secured a long-term home in a location, which satisfies a two-year search for its ideal corporate headquarters.

Downtown benefits from a high-profile migration from Midtown that will add over 200 jobs to the burgeoning Financial Center," said Mr. Eynon. "This is a significant move for CGS, as it provides the firm with the perfect platform to meet its current space requirements as well as any future expansion."

According to Phil Friedman, Chief Executive Officer of Computer Generated Solutions, "Computer Generated Solutions has been in New York for over 20 years and we are thrilled to have found a new location within the city.

Three World Financial Center is the perfect fit for CGS. The new space provides us with the facilities we need as our business grows and affords us the opportunity to keep our roots here in Manhattan, today and in the future."

"I am very pleased to welcome a company of CGS's caliber to our tenant roster at Three World Financial Center," said Dennis Friedrich, President & COO of Brookfield's U.S. Operations. "Over the past few years Lower Manhattan has experienced a dramatic turnaround, thanks in part to a strong commitment by large firms to relocate to the submarket and take advantage of everything this area has to offer."

In addition to the 40,265-square-foot lease at Three World Financial Center, CBRE has represented CGS in a number of national assignments including a 40,000-square-foot commitment in Atlanta; a 6,000-square-foot lease in Los Angeles and a 20,000-square-foot disposition in Dallas.
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Title Annotation:Three World Financial Center.
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Oct 13, 2004
Previous Article:HFF exclusive.
Next Article:ConEd's White Plains lease renewal inked.

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