NEW YORK CITY-Trinity Real Estate has taped Cushman & Wakefield as exclusive leasing agent for One Hudson Square. It is the first time in its 300-year history here that the Parish of Trinity Church has awarded a leasing assignment to an outside firm.

Cushman’s Andrew M. Peretz, Robert Constable and Marc Packman will act as exclusive leasing agents. The 19-story, 1,045,820-sf building is home to the Art Institute of New York City, Nature America, Morgan Stanley, PricewaterhouseCoopers, Getty Images and Bliss Spa.

“Hudson Square is arguably the most active commercial real estate sub-market in the United States, and this assignment is a key element in our strategy to take advantage of these positive conditions immediately,” says Carl Weisbrod, president of Trinity Real Estate. “It also reflects a new eagerness on our part to reach out and conduct business with corporations seeking a home in Hudson Square.”

Weisbrod did add that the firm’s “centuries-old philosophy of proudly owning and operating our property portfolio in the Hudson Square community will not change.” Of Trinity’s space that is actively being marketed, 93% is currently occupied, compared with 72% occupancy just 15 months ago. In addition, Cushman & Wakefield reported Hudson Square’s vacancy at 12.8% at the end of May, down from 14.7% at the same time last year. “With rents approaching $40 per sf, the Hudson Square office market is very active,” adds Jason Pizer, Trinity Real Estate’s director of leasing. “Hudson Square has become a magnet for New York’s creative community, and many creative firms are relocating here. Several other large leasing transactions are in the offing, and we expect that they will become signed deals in the very near future.”

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