Health trade group takes 24K sf at 25 Bway

TRD New York /
Jun.June 29, 2010 02:45 PM

25 Broadway (source: PropertyShark)

The advocacy group American Thoracic Society is moving two blocks further downtown with a new lease signed this week at 25 Broadway, the building that snagged the Claremont Prep school lease last year.

American Thoracic Society, which publishes research journals and lobbies on issues such as lung and respiratory diseases, is currently located at 61 Broadway, between Rector Street and Exchange Alley.

The association signed a 15-year lease on June 28 for 24,200 square feet at 25 Broadway, CoStar Group shows, in the 809,100-square-foot building owned by Wolfson Group, at Morris Street.

The asking rent for the floor was $35 per square foot, CoStar shows.

The non-profit tenant decided to move to take advantage of the market’s reduced rents and newly built-out space at 25 Broadway, a spokesperson for CBRE said. The association, which has two years left on its lease with just under 24,000 square feet at 61 Broadway, is offering that space as a sublease, CBRE said.

In July 2009, Claremont Prep signed a lease for 200,000 square feet after originally inking a deal at 100 Church Street that it backed out of. Claremont Prep is scheduled to move into the space Sept. 1, CoStar shows.

The deal was negotiated by CB Richard Ellis, which represented both landlord and tenant.

Wolfson Group and American Thoracic did not respond to a request for comment.

 

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