Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced today that it has arranged a long-term leasing transaction for global architectural firm Woods Bagot at 30 Broad Street, a 49-story, 476,000-square-foot office property in the heart of the Financial District.
The architecture company’s new lease encompasses approximately 11,000 square feet on the 7th floor of the building, with the option to expand. The firm expects to relocate from Midtown at 142 West 57th Street to its new offices in July 2017.
The new lease allows Woods Bagot to create an authentic studio environment — a “makers and creators space” — that gives the team the ability to continue to grow and meet its operational needs.
Woods Bagot plans to design its new office space; the “central street and bodega” creating an active social core with workshops, model shop and design team work areas connecting off the central street. The virtual reality lounge will be a popular space for clients to experience their projects in virtual reality as the design evolves. It is also a great way to virtually tour Woods Bagot’s global project portfolio without leaving New York.
Savills Studley’s Senior Managing Director Scott Weiss represented the tenant along with his team comprised of Executive Managing Director Erik Schmall and Assistant Director Seth Wasserman. The landlord was represented by Andrew Peretz at Newmark Grubb Knight Frank.
“After searching the entire market, Woods Bagot determined that downtown Manhattan was the right fit for the company’s culture and brand,” Weiss said. “We believe that they will benefit from the building’s excellent location near Wall Street, the new Fulton Center transportation hub, major retailers and restaurants.”
“Finding an inspired workplace environment in the heart of downtown Manhattan marks a significant step in Woods Bagot’s definition as an innovative and collaborative company, which reflects its New York studio while rooted in our global platform,” said James Hickerson, Associate Principal and New York Studio Chair.
“We are thrilled to be relocating downtown, and we look forward to taking that energy into our studio. Along our journey for a new home, Savills Studley became an integral partner in our studio search process. We initially cast a far-reaching net and Savills Studley helped focus our selection process by providing us options that targeted our specific needs.”
Woods Bagot global design and consulting studio with a team of over 850 experts working across 17 studios in Australia, Asia, the Middle East, Europe and North America, the practice works collaboratively across time zones and borders, using the latest technology to share design intelligence.