NEW YORK CITY—In a major nod to the increasing importance of technology companies in leasing here, Cushman & Wakefield has agreed to serve as exclusive real estate sponsor for New York University’s Polytechnic School of Engineering incubator program for companies in the sector. The real estate advisory firm is expected to be “intimately involved in advising companies,” providing expertise in leasing, project management and sustainability strategies.
NYU’s program features three incubators strategically located across three tech hotspots—SoHo, DUMBO and Brooklyn’s MetroTech. The program is focused on providing the tools necessary for startups to grow into successful, sustainable companies.
“NYU’s incubators nurture the aspirations of entrepreneurs, equipping them with the tools to succeed and guiding them through the early stages of their evolution,” says John Santora, Cushman & Wakefield CEO, North America. “Cushman & Wakefield is extremely excited to take part in this crucial stage of their growth, advising and supporting these new companies, and in turn, having a positive impact on New York City and beyond.”
Adds Ron Lo Russo, C&W president, NY tri-state region, “A significant obstacle for new companies is the ability to acquire suitable space that accommodates for potentially unanticipated growth and changing needs of the new organization. Cushman & Wakefield will help nurture these companies through this critical stage informing them on real estate strategies that accommodate their companies changing needs.”
Since its inception in 2009, NYU’s incubator has helped its companies create more than 1,256 jobs, raise more than $145 million in capital, and has had a local economic impact of $352 million.
The companies represented in the incubators align with NYU’s research strengths in urban systems, information, technology, health and wellness. A total of 51 startups have graduated the program, which also includes partnerships with the Marino Organization, Lowenstein Sandler LLP, National Grid, Samsung, ADT, NYSERDA, NYCEDC and ESDC.
C&W has represented two of the graduating companies—KISI and Bounce Exchange—advising them in lease transactions, taking into account their projected growth trajectory. Recently, C&W partnered with KISI, a leading provider and developer of a cloud-managed keyless access control system, to roll out mobile access technology at the firm’s corporate headquarters here, marking the first enterprise installation of this kind in a New York City office building.
The move isn’t the first time Cushman has jumped into the innovation fray. In 2013 C&W advised Amazon in the year’s largest office lease in London. The firm’s experience working with TAMI tenants was developed into a website, “C&W TechBeat.” A main feature of the site, a chart called ‘Evolution of a Startup,’ outlines the real estate lifespan of a startup company.