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NEW YORK CITY-In an expansion move, financial rating firm Fitch Ratings has inked an 11-year, 66,256-sf lease at Broad Financial Center in Lower Manhattan. The financial terms of the transaction were not released, however other space in Broad Financial is currently leasing for $45 per sf. Fitch, which is headquartered nearby in 160,000 sf at 1 State Street Plaza, wanted the space for expansion purposes.

“When we recognized our need to expand, we found that the close proximity of Broad Financial Center to our headquarters as well as the open floor plates and state-of-the-art technological infrastructure at the property ideally suited our requirements,” explains Fitch CFO David Kennedy.

The CB Richard Ellis team of Edward Goldman, executive vice president, Stacey Fabrikant, first vice president and Howard Bressler, vice president, negotiated on behalf of the building ownership, Broad Financial Center LLC. Mitchell Barnett, executive director, and Curtis Brown, associate director, of Cushman and Wakefield repped Fitch.

“The repositioning of Broad Financial Center has been a tremendous success since the former namesake tenant, NASD, vacated and as the events of 9/11 unfolded,” notes Bressler, adding that during the past two years, more than 130,000 sf of new leases have been completed at Broad Financial.

The 369,269 sf-property, located at 33 Whitehall St., features an atrium lobby, glass and steel construction and unobstructed views of the New York harbor. Other tenants include Sun Microsystems, EEOC and the US Attorney’s Office.

“The convenience and high quality of our building fully addressed Fitch’s expansion need,” adds Faith Ryan of Broad Financial Center LLC. “Both landlord and tenant will benefit by giving Fitch signage rights and further expansion rights in the building.”

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