The Real Deal New York

Regus bails on 16-year Brookfield Place lease

Luxembourg-based shared workspace operator vacated nearly 55,000 square feet

June 16, 2014 05:55PM

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From left: Brookfield Place and Regus CEO Mark Dixon

From left: Brookfield Place and Regus CEO Mark Dixon

Regus’s grand opening last month at Brookfield Place has given way to a quiet closing.

The Luxembourg-based operator of shared workspace has moved out of its Brookfield space and relocated customers to nearby locations, the Commercial Observer reported. The reason for leaving was “a number of operational issues outside our control,” Regus told the Observer.

The premature exit on a 16-year lease signed in February 2013 leaves Brookfield with nearly 55,000 square feet to fill in its 2.1-million-square-foot building at 200 Vesey Street. The entire 8 million-square-foot complex is slated to open later this year following a $250 million renovation.

Regus is the largest shared workspace provider in New York City, with 1.6 million square feet as of February. [NYO]Tom DiChristopher

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