Columbia Property Trust has signed a lease with Wellington Management for four full floors at 799 Broadway, its newly completed, ground-up office development at the convergence of Manhattan’s Greenwich Village and Union Square neighborhoods.
One of the world’s largest independent investment management firms, Wellington manages over US$1.3 trillion for clients in more than 60 countries. Under the 16.5-year lease, Wellington will become the largest occupant at 799 Broadway, with 71,000 square feet of office space in the 182,000-square-foot building. Wellington’s new office, the first New York location for the Boston-based firm, will feature 15-foot ceiling heights, five private terraces totaling 7,600 square feet, and floor-to-ceiling windows with views of Greenwich Village, Union Square and the steeple of Grace Church.
“We are excited to expand our North American footprint by committing to 799 Broadway as an investment in our future of work,” said Ed Steinborn, chief financial officer, Wellington Management. “We take pride in creating magnetic office space for our employees and believe 799 Broadway’s state-of-the-art facility will offer both New York-based and global employees an accessible, sustainable office space for colleagues to connect and collaborate in. New York remains a hub for talented, diverse financial professionals, and we look forward to continuing to support the growth of Wellington’s strategic initiatives by expanding in New York City.”
Just before the end of 2021, leading investment firm Bain Capital Ventures signed a full-floor, 9,000-square-foot lease, and national mortgage lending and servicing organization New Residential Investment Corporation signed a two-floor, 25,000-square-foot lease. An undisclosed tenant took two additional floors in January. Columbia has now signed leases for nine of the 12 floors at 799 Broadway. The brand-new, LEED Gold-certified building features state-of-the-art building materials and efficient systems and touchless access throughout. The building’s unique design allows for more than 17,000 square feet of outdoor space, including access to private outdoor terraces on almost every floor and a courtyard garden off the main lobby that will soon feature an original work by Cameroonian artist Moustapha Baidi Oumarou. A luxury fitness center, spa-inspired locker rooms, cellar lounge and well-appointed bike room will also enhance the workday for occupants.
Moreover, with UV light sanitation and bipolar ionization systems installed throughout the building and in elevator cabs, 799 Broadway exceeds the highest standards of indoor air quality and air purification. The building has been designed to meet the rigorous health and wellness criteria of the Well Building certification program, which verifies that the building has followed best practices for facility operations and management to reduce the risk of contracting COVID-19 and other viruses. 799 Broadway was also awarded a coveted Fitwel 2-Star Rating for its incorporation of evidence-based design and operations strategies to support the physical, mental, and social health of occupants.
Columbia was represented in the negotiations with Wellington by Mitchell Konsker, Benjamin Bass and Sam Seiler of JLL. Steven Rotter, Randy Abend, Gabrielle Harvey, Brendan Callahan and Lauren Calandriello of JLL represented Wellington.
