Macmillan Leaves Flatiron Building for Lower Manhattan
BySilverstein Properties has reeled in a new tenant at 120 Broadway in Lower Manhattan. The REIT secured a commitment from Macmillan Publishers to take 261,000 square feet at the 1.9 million-square-foot, downtown office tower. The deal leaves the property 96 percent leased.
Macmillan’s 20-year lease at 120 Broadway paves the way for the global book publishing company’s move from Midtown South to downtown. “The Manhattan market is strong and downtown is leading the way,” Joseph Artusa, senior vice president, leasing, with Silverstein Properties, told Commercial Property Executive. “This neighborhood has a great mix of brand-new and older office space for all kinds of tenants. It is also close to where many young, creative people live, including Brooklyn, the New Jersey waterfront and Lower Manhattan. This is becoming an important factor as companies compete for talent.”…
