Frederick and Michaels of Colliers ABR arrange 10,790 s/f lease

According to Colliers ABR, Inc., Hugh Wood Inc., a global insurance broker, has signed a 10-year lease for 10,790 s/f at One Exchange Plaza (55 Broadway), taking over the entire 24th floor. Hugh Wood advises and assists clients with the purchase and placement of insurance products from various insurance companies and group benefit providers.   The company plans to relocate from their current location, 45 Broadway. Jim Frederick, principal, and Richard Michaels, managing director of Colliers ABR, represented Hugh Wood. "Hugh Wood was intent on keeping their Manhattan headquarters downtown and 55 Broadway was a convenient option which had no effect on the commutation habits of the employees," said Frederick. "This postmodern building has a more efficient floor plan on a far higher tower floor than their existing offices." Daniel Blanco and David Israni of Broad St. Development, owner of the building, negotiated the transaction directly.