Walker of Grubb & Ellis represents FXDD in 40,717 s/f sublease at 7 World Trade Center

According to Grubb & Ellis Co., FXDD, which provides software and trading platforms for global currency exchange, has subleased 40,717 s/f - the full 32nd floor - at 7 World Trade Center. Tradition North America, which is owned by Compaignie Financier Tradition (CFT) has a minority stake in five-year old FXDD. Hank Walker of Grubb & Ellis represented FXDD. Joe Harkins and Barry Lewen of Grubb & Ellis represented the sublandlord, the former ABN AMRO, now Royal Bank of Scotland. "FXDD, one of the premier international FX platforms, continues to grow at an extraordinary pace. We are thrilled to have seized upon this opportunity in the real estate cycle to tie down economically priced space in downtown Manhattan," said Emil Assentato, chairman of FXDD. "We look forward to moving to Lower Manhattan's premier office building and remaining in the heart of the world's financial center." "A company like FXDD values a prestigious Wall St. address in the center of currency trading," said Walker. "The firm never considered Midtown. The fact that this space is the best value downtown helped seal the deal." Walker's relationship with Tradition dates back to 1999 when he helped the company relocate to their current location, 75 Park Place. Although not actively in the market, company representatives took a tour of the building in 2007 soon after leaseholder Larry Silverstein first began showing it. Serious consideration began when the well-priced ABN AMRO sublease became available. "While FXDD was initially only interested in 20,000 s/f, their requirements eventually doubled due to healthy growth - all in spite of the troubled economy," said Walker. FXDD expects to move into the space around March 2010. Energy and tax grant incentives are expected to be determined in the coming months.