"This assignment reinforces Grubb & Ellis' commitment to remain active for our clients throughout the entire construction and relocation process," says John McGinley, vice president and director of New York Management Services. "We're delighted we can leverage our expert skill sets at property and facility management to assist Moody's in this ongoing project."
Grubb will recruit and hire the management staff and help make the new headquarters facility. An estimate 1,700 employees will be moving into 7 WTC. In conjunction with Moody's relocation team, Grubb will select vendors, guide the company through the interior construction of the space and aid the process of moving employees from other locations. Also, the team will help choose mechanical and electrical equipment and make a preventative maintenance program.Additionally, for both locations Grubb will execute operational and administrative components.
In June 2006, Moody's signed on for 590,000 sf at Silverstein Properties' 7 WTC, taking floors 12 through 26 of the 52-story, one-million-sf building. Other tenants, in the 60% occupied facility, include ABN Amro, which leased 140,000 sf in December, Darby & Darby PC and the New York Academy of Sciences.
Moody's sold its headquarters building, 99 Church St. to Silverstein Properties and the California State Teachers Retirement System for $170 million in November. The majority of Moody's employees will move from the 99 Church St. location to 7 WTC, beginning sometime this summer.
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