NEW YORK--(BUSINESS WIRE)--Columbia Property Trust announced today that it has signed a lease with Wellington Management for four full floors at 799 Broadway, its newly completed ground-up office development at the convergence of Manhattan’s Greenwich Village and Union Square neighborhoods.
One of the world’s largest independent investment management firms, Wellington manages over US$1.3 trillion for clients in more than 60 countries. Under the 16.5-year lease, Wellington will become the largest occupant at 799 Broadway, with 71,000 square feet of office space across four full floors in the 182,000-square foot building. Wellington’s new office, the first New York location for the Boston-based firm, will feature 15-foot ceiling heights, five private terraces totaling 7,600 square feet, and floor-to-ceiling windows with views of Greenwich Village, Union Square, and the steeple of Grace Church.
Wellington is the fourth prominent firm to commit to 799 Broadway. Just before the end of 2021, leading investment firm Bain Capital Ventures signed a full-floor, 9,000-square-foot lease, and national mortgage lending and servicing organization New Residential Investment Corporation signed a two-floor, 25,000-square-foot lease. An undisclosed tenant took two additional floors in January. Columbia has now signed leases for nine of the 12 floors at 799 Broadway and is currently marketing one full floor; one high-end, 9,300-square-foot pre-built suite; and 18,000 square feet of some of the most desirable retail space in Midtown South.
“We are very pleased to welcome Wellington Management to 799 Broadway,” said Dave Cheikin, Executive Vice President – East Coast for Columbia. “We built 799 Broadway to provide the highly attractive environment necessary to enable high-growth, forward-leaning companies, like Wellington, to engage and motivate superior talent in today’s environment.”
"We are excited to expand our North American footprint by committing to 799 Broadway as an investment in our future of work,” said Ed Steinborn, Chief Financial Officer, Wellington Management. “We take pride in creating magnetic office space for our employees and believe 799 Broadway’s state-of-the-art facility will offer both New York-based and global employees an accessible, sustainable office space for colleagues to connect and collaborate in. New York remains a hub for talented, diverse financial professionals, and we look forward to continuing to support the growth of Wellington’s strategic initiatives by expanding in New York City.”
Designed specifically to promote talent retention, 799 Broadway sets the standard for sustainable new construction by emphasizing occupant health and wellness. The brand-new, LEED Gold-certified building features state-of-the-art building materials and efficient systems and touchless access throughout. The building’s unique design allows for more than 17,000 square feet of outdoor space, including access to private outdoor terraces on almost every floor and a courtyard garden off the main lobby that will soon feature an original work by Cameroonian artist Moustapha Baïdi Oumarou. A luxury fitness center, spa-inspired locker rooms, cellar lounge, and well-appointed bike room will also enhance the workday for occupants.
Moreover, with UV light sanitation and bipolar ionization systems installed throughout the building and in elevator cabs, 799 Broadway exceeds the highest standards of indoor air quality and air purification. The building has been designed to meet the rigorous health and wellness criteria of the highly respected WELL Building certification program, which verifies that the building has followed best practices for facility operations and management to reduce the risk of contracting COVID-19 and other viruses. 799 Broadway was also awarded a coveted Fitwel® 2-Star Rating for its incorporation of evidence-based design and operations strategies to support the physical, mental, and social health of occupants. Adding to the attractive wellness benefits, the building provides abundant light with 15’ ceiling heights and floor-to-ceiling glass windows, which offer striking views of Greenwich Village and across Broadway to the Gothic beauty of New York’s historic Grace Church.
Columbia continues to entertain strong interest and tour activity for the limited remaining available space at 799 Broadway. Columbia was represented in the negotiations with Wellington by Mitchell Konsker, Benjamin Bass, and Sam Seiler of JLL. Steven Rotter, Randy Abend, Gabrielle Harvey, Brendan Callahan, and Lauren Calandriello of JLL represented Wellington.
To learn about the final opportunities available at 799 Broadway, please visit 799broadwaynyc.com.
About Columbia Property Trust
Columbia Property Trust creates storied properties for legendary companies in New York, San Francisco, Washington D.C., and Boston. The Columbia team is deeply experienced in transactions, asset management and repositioning, leasing, development, and property management. It employs these competencies to grow value across its high-quality, well-leased portfolio of 13 properties that contain more than five million rentable square feet, as well as three properties under development that will deliver more than 1.5 million additional square feet. Columbia has been named a 2022 ENERGY STAR “Partner of the Year” by the E.P.A. and a “Green Lease Leader” by the U.S. Department of Energy, as well as one of Fortune’s “Best Workplaces in New York 2021” among Small and Medium-sized employers and "Best Places to Work in NYC" (2020, 2021) by Crain’s New York. For more information, please visit www.columbia.reit.
About Wellington Management
Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,200 clients in more than 60 countries. The firm manages more than US$1.3 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, sustainable investing and alternative strategies. With more than 800 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial “boutique” environment. For more information about the firm, please visit www.wellington.com.
