OTC Markets Group signs a 33K sf sublease at Brookfield Place

The firm will lease the space from Virtu Financial, which previously listed asking rents for $56 a square foot
March 27, 2019 09:00AM

OTC Markets CEO R. Cromwell Coulson and  Brookfield Place at 230 Vesey Street (Credit: Tour America and OTC Markets)

Brookfield Place is set to receive its second new occupant in two weeks, after a public-trading markets firm signed a 33,000-square-foot sublease at the center.

OTC Markets Group, which serves as a marketplace for shares in companies not listed on stock exchanges, will take a section of the 12th floor at 300 Vessey Street, from tenant Virtu Financial which has multiple floors in the building, according to Commercial Observer. The sublease, a 10-year term, will increase OTC’s office space by almost 10 percent, when it moves from its current location at 304 Hudson Street.

Virtu reportedly assumed 169,000 square feet in the 522,000-square-foot building, when it took over competitor KCG Holdings for $1.4 billion in 2017. KCG had moved to the building in 2015.

OTC will is the latest company to move into Brookfield’s center. Last week the landlord announced a partnership agreement with Convene, the flexible office and meeting space company, which will operate a 73,000 square foot space in the building.

It will also join tenants Momentum Worldwide and health analytics firm IQVIA.

Savills represented OTC Markets in the sublease. JLL and Sage Realty represented Virtu. [CO] — David Jeans