New York City-based JEMB Realty, a privately held real estate development, investment and management company, has retained Newmark Grubb Knight Frank as leasing agent for 75 Broad Street as part of a repositioning effort for the 35-story, 750,000 SF office property.
The repositioning project will include lobby enhancements, state-of-the-art pre-built space and common corridor and bathroom improvements. The building, constructed in 1928, features high ceilings, a historic lobby, superior fiber connectivity, generator power for tenant use and flexible floorplates ranging up to 30,000 SF. JEMB Realty recently completed a post-Sandy improvement program including new and relocated electrical switch gear, a new fuel system and flood gates.
With 75 Broad Street, JEMB Realty took what was an empty, underperforming asset and transformed it into a high-tech office building that has withstood volatile market conditions. The building has a half telecom and half traditional-office occupancy, with a portion of the upper level housing Millennium High School. Capitalizing on the prewar towerâ€™s address next to the New York Stock Exchange, JEMB strategized to re-tenant the building and adjust to the needs of prospective tenants by incorporating the most advanced modern amenities, including an ultra-powerful data center and state-of-the-art security system.
The buildingâ€™s telecommunication installations rank among the most sophisticated, with energy capacity surpassing industry norms and standards. 75 Broad Street was one of the original office towers erected in the Financial District and once served as the former headquarters of the now-named ITT Corporation.
JEMB Realty has begun pre-building units ranging in size from 2,000 square feet to 14,000 square feet to accommodate a variety of tenant requirements. The pre-built units, which are scheduled for completion on May 1, 2016, will feature finishes including polished concrete floors, exposed ceilings, bistro-style kitchens and glass-fronted meeting rooms to maximize the buildingâ€™s natural light.
Image courtesy of JEMB Realty