AFS-USA, a nonprofit that handles exchange programs for students and adults, is merging all of its offices nationwide into one space at the Silverstein Properties-owned 120 Wall Street, the Wall Street Journal reported.
A staff of 180 will settle in at the new 41,000-square-foot space as the other offices in Portland, Ore.; Baltimore; St. Paul, Minn.; and 1 Whitehall Street in the Financial District shut down. The company’s 15-lease covers the full fourth floor and part of the third. The move is planned for the end of the year, the Journal said.
The 34-story, 615,000-square Foot Tower Near South Street is no stranger to nonprofits; it also houses American Foundation for AIDS Research, Jewish Child Care Association, the National Urban League, the American Institute of Chemical Engineers and Freedom House, the report said.
Colliers International recommended the consolidation and organized the deal.
“It might not have been the cheapest option, but when you put all the other factors together, it was the best option,” Alan Desino, a Colliers executive managing director told the Journal. [WSJ, 2nd item] — Mark Maurer