Manoff of Williams R.E. negotiates 69,603 s/f lease renewal/expansion
Williams Real Estate, a FirstService Co., has negotiated a lease renewal and expansion for the Nature Publishing Group at One Hudson Sq. Under the terms of the new lease, the tenant has agreed to occupy the entire 69,603 s/f ninth floor of the building, 16,534 s/f more than its current occupancy level.
Nature Publishing Group agreed to an eight-year term on the lease and plans to occupy the additional, already-built space by the end of this year.
"This significant renewal and expansion builds on our 16-year relationship with parent company Macmillan Publishing," said Leon Manoff, executive managing director of Williams Real Estate, who negotiated the deal. "We helped the Nature Publishing Group explore many different options, but expanding within their current location ultimately made the most sense for them. Our heavy roster of clients in the publishing field also enabled us to better understand their space needs and specifications." ???
Nature Publishing Group is a subsidiary of global publishing firm Macmillan Publishers Ltd., which is owned by German-based Georg von Holtzbrinck Publishing Group. ?
One Hudson Sq. is owned by Trinity Church. Robert Constable of Cushman & Wakefield represented the landlord. Tenants at One Hudson Sq. include the Art Institute of New York City, Morgan Stanley, Pricewaterhouse Coopers, Getty Images and Bliss Spa.
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You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their