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The acquisitions from New York REIT, which is liquidating, “will further establish Columbia as a significant player in Manhattan's most dynamic office district,” says Nelson Mills, president and CEO of Columbia Property Trust.
One Allen Center is an institutionally maintained building that caters to small- and mid-sized tenants seeking class-A office space, square in the path of northbound suburban expansion.
The office development is pre-certified under LEED v4 Platinum and will feature a number of green features, plus an infinity edge that makes it appear as though the park is floating in the sky.
The New York City Economic Development Corporation and New York City Department of Small Business Services will move to another Lower Manhattan location.
The decision to explore the possibility of a sale is “the result of a review of assets that are potentially of more value outside of the company,” the nation's largest grocery operator said Wednesday.