City Year, Inc. and Splash lease new pre-builts while Royal Funding Group and Cover Whale expand
Clarion Partners, LaSalle Investment Management, and Banyan Street Capital announced that City Year, Inc. and One Clipboard Inc. (dba Splash) are relocating to new pre-built units at 180 Maiden Lane, while current tenants Cover Whale and Royal Funding Group signed expansion deals. The new leases mark over 20,000 square feet of transactions this quarter, and over 52,000 square feet over the past 6 months
City Year signed a new 10,807-square-foot lease for one of the new pre-built suites on the 25th floor, where they will be joined by Splash, who will occupy the other new 5,215-square-foot unit on the same floor.
Cover Whale will expand into an additional 4,042-square-foot unit on the 8th floor, while Royal Funding Group also expanded its commitment, having doubled their space from 4,567 square feet to 8,997 square feet over the past 2 years.
City Year was represented by Rory Murphy, Larry Serota, and Stacey Kruger Birndorf of Transwestern, while Michael Pallas, Andrew Coe, and Margaux Kelleher of JLL represented Splash. Cover Whale Insurance was represented by Leo Paytas of Newmark, with Travis Egenberg of Norman Bobrow repping Royal Funding Group on their expansion. Ownership was represented by the Cushman & Wakefield team of Tara Stacom, Rob Lowe, Justin Royce, Frank Cento, and Connor Daugstrup, along with JLR Realty Inc.’s Jesse Rubens.
“We are thrilled to see continued activity at 180 Maiden Lane. Signing two new leases for brand new pre-built units within months of hitting the market is a testament to our strategic upgrades to both tenant and amenity spaces,” said Joshua Mandelberger, Vice President at Clarion Partners. “As tenants seek buildings that offer a one-of-a-kind work experience, the combination of waterfront location, institutional ownership, and newly-upgraded amenities and pre-builts has helped 180 Maiden emerge as one of the pre-imminent business destinations in Lower Manhattan.”
The 1.2 million-square-foot property, known for its prominent East River location and spectacular views, has undergone a significant series of upgrades to accommodate the needs of modern tenants as part of the flight to quality observed in the office sector. The existing conference room has been reimagined as a flexible, state-of-the-art conferencing and business center, capable of accommodating a wide array of meetings, seminars, and collaborative sessions to meet the evolving needs of today’s office users. The building also features a curated rotating food hall featuring new lounge-style seating, new furnishings, and finishes, as well as an upgraded fitness center and locker room area. 180 Maiden Lane now offers new on-site hospitality services, providing tenants with a more hotel-style experience to further elevate the on-site workplace expectations.
180 Maiden Lane is steps to the vibrant Seaport District, including Pier 17, recognized as one of New York’s best live entertainment venues, along with the new market The Tin Building, and The Fulton restaurant by Jean-Georges. Current availability at 180 Maiden ranges from move-in-ready units to full floors of up to 32,000 square feet, including the 41st-floor penthouse unit, a 23,000-square-foot space with 21-foot ceiling heights and the potential for one-of-a-kind private rooftop terrace.
For more information, visit 180maiden.com
About Clarion Partners
Clarion Partners LLC, an SEC-registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $81.6 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to 500 domestic and international institutional investors. More information about the firm is available at clarionpartners.com.
About LaSalle Investment Management:
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $82 billion of assets in private and public real estate property and debt investments as of Q3 2022. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments, and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities, and entity-level investments. For more information, please visit www.lasalle.com, and LinkedIn.
About Banyan Street Capital:
Founded in 2012, Banyan Street Capital is a minority-owned, vertically integrated real estate investment firm that executes creative, value-add strategies and delivers high risk-adjusted returns to investors. With its headquarters in Miami, Florida, and regional offices in New York City, Atlanta, and Jacksonville, Florida, the firm owns, develops and operates a diversified portfolio of office, multifamily and mixed-use properties spanning 10.5 million square feet of office space, 6,500 apartment units and nearly 40,000 parking spaces across the Eastern United States. For more information, visit banyanstreet.com.
About Cushman & Wakefield:
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 52,000 employees in over 400 offices and approximately 60 countries. In 2022, the firm had revenue of $10.1 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.
