Printer Friendly

UNICEF seeks new HQ.

The real estate industry got some relief from UNICEF last week when 60 lucky developers, brokers, banks and agents received word the UNICEF is looking for a new world headquarters.

Timothy Boakes, UNICEF's director of the office of administrative management, said the organization is taking advantage of the current real estate climate to purchase or leaseback one or two locations that will accommodate their needs into the 21st century. "We would not have done this five years ago," he noted.

"Due to the growth of the organization's activities and anticipated staff growth," Boakes said, "UNICEF is considering a long-term premises strategy that will consolidate its headquarters operation, ideally in one or two facilities or locations. This consolidation, from our point of view, should be cost effective and should provide flexibility in accommodating our growth requirements." Boakes said UNICEF will consider consolidating the operations in the New York area within 25 miles of UN headquarters.

UNICEF currently leases space in several locations in the Greater New York are including Secaucus, Long Island City, on 44th Street and on 38th Street.

Current needs call for 314,000 square feet but Boakes said they are trying to do both short-term planning to the year 2000, as well as long-term planning to the year 2010 and are projecting at leat to 400,000 square feet. "We are a growing organization," Boakes said, "who knows what we will need by 2010."

The request for proposals went out to 22 agents and brokers, six banks and corporations, and 32 owners and developers.

The cross-roads of the world, however, is not a likely location for an organization that helps women and children in all countries. When apprised of the currently empty 860,000-square-foot 1540 Broadway office tower in Times Square, Boakes said, "Galleries Lafayette didn't locate on Broadway. We want something suitable for a world class headquarters with more ambiance."

Although as a not-for-profit organization, the group would not be paying real estate taxes on a building it would own, Boaken noted that UNICEF puts about $80 million dollars into the local economy. "We are a useful tenant to have around," he added.
COPYRIGHT 1991 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Author:Weiss, Lois
Publication:Real Estate Weekly
Date:Oct 2, 1991
Previous Article:SL Green, Loeb acquire 16 East 34th Street.
Next Article:Attorney general seeks to bar converter.

Related Articles
Pols act to keep UNICEF in Big Apple.
HQ Business Centers launched Long Island expansion at EAB.
World's children". (Child & Family).
A call for help: facing the reality of the situation.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters