The lease renewal retains the property's core strength as a magnet for hedge fund investment firms. In the fourth quarter of 2003, Amarath Advisors leased 123,000 sf and Tudor Investments inked a deal for 23,000 sf at the building. In the first quarter of 2003, Andor Capital signed a lease for 145,000 sf of space, also at the Greenwich American Centre.
Joseph S. Grubb Jr., senior vice president of Tower Realty, and Jay S. Hruska, executive director of Cushman & Wakefield, represented the property owner, Greenwich American Centre Inc. Robert Martin of CB Richard Ellis represented Paloma in the transaction.
"Paloma Partner's long-term commitment to Greenwich American Centre further solidifies the facility's position as a premier location for major financial services companies," says Grubb. "The building's floor sizes, amenities, location and close proximity to Wall Street are advantageous and very attractive to the financial sector."
Hruska notes that there are a number of sizable lease transactions in negotiation at the property, which total approximately 100,000 sf. Those deals, if closed, would bring the complex to full occupancy. Hruska would not identify the names of the firms contemplating leasing space at the site.
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