JLL represents tenant and ownership in 60,000-square-foot lease in Lower Manhattan
JLL completed a new transaction for building owner Brookfield Properties with Momentum Worldwide at 300 Vesey Street, located within Brookfield Place in Lower Manhattan. The global brand experience agency signed a long-term lease for 60,000 square feet of office space at the Class A, 522,000-square-foot office building
JLL represented both the tenant and the building owner in the transaction. Momentum Worldwide was represented by Scott Panzer, vice chairman; Robert Romano, managing director; and Shannon Rzeznikiewicz, executive vice president. Brookfield Properties was represented by John Wheeler and Michael Berman, managing directors; and Clayton Kline, executive vice president; along with Paul Glickman, vice chairman; Diana Biasotti, senior vice president; and Eliza Akers, associate, all with JLL. The building owner was represented in-house by Jerry Larkin, Mike Nahmias and Dave McBride.“Momentum Worldwide’s leadership was seeking to accommodate their growth in an efficient location that would also provide the dynamic amenities their high-value talent covets,” said Panzer. “Brookfield Place’s unique combination of dining, lifestyle and cultural offerings set on a five-acre waterfront plaza creates the right match for this progressive company.”
Momentum Worldwide inked a 10-year lease and will occupy the entire 15th floor and a portion of the 14th floor at 300 Vesey Street, which is located at Vesey Street and North End Avenue in Lower Manhattan. The lease also gives Momentum Worldwide exclusive access to the rooftop deck. The global brand experience agency is relocating to the building from 250 Hudson Street.
“We are pleased to welcome this cutting edge agency to Brookfield Place,” said Larkin. “Momentum Worldwide’s decision to relocate to Brookfield Place extends a trend at the complex where we have attracted leading companies from diverse sectors previously located in Midtown and Midtown South.”
“We have experienced great success in the past few years, bringing on impressive new clients such as Verizon, SAP, and Chevron, while also expanding the work we are doing for some of Momentum’s very first clients like American Express,” said Chris Weil, Chairman & CEO of Momentum Worldwide. “This growth has led us to also expand our employee base, bringing in the best talent to create incredible experiences for our clients. We are excited to build our new office space from the ground-up and make it truly representative of Momentum’s culture and the work we create.”
The 15-story 300 Vesey Street, also known as One North End Avenue, was designed by Skidmore, Owings & Merrill and constructed in 1996. Brookfield completed a redesign of the lobby and elevator cabs in 2016 led by Skidmore. The office building is located along the Hudson River waterfront at Brookfield Place, which is home to luxury retail, dining, extensive public space and world-class amenities.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,400 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2016, the New York tri-state team completed approximately 28.2 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $12.0 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 146.7 million square feet.
About Momentum Worldwide
Momentum Worldwide is the world’s first global experiential advertising agency. Built on the simple truth that it’s not what brands say, it’s what they do that matters, Momentum delivers total brand experiences for clients by blending creativity, technology, strategy, insights and flawless execution. Working across sports, music and entertainment, Momentum has concurrently been named Best Sports Marketing Agency, Best Experiential Agency, Best Place to Work, Agency of the Year and Most Honored Marketing Agency by multiple outlets and award shows around the world. Operating across six continents, with more than 40 offices and over 2,000 employees, Momentum is part of the Interpublic Group of Companies (NYSE:IPG). Clients include American Express, Chevron, Coca-Cola, Mondelez, Microsoft, P&G, Samsung, SAP, Verizon and William Grant & Sons. momentumww.com and @momentumww
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
