By Rebecca Baird-Remba | Commercial Observer
Engineering firm Thornton Tomasetti plans to consolidate its two New York City offices into one large headquarters at 120 Broadway in the Financial District, Commercial Observer has learned.
The company has inked a 15-year, 102,440-square-foot lease for the entire 15th and 16th floors at the landmarked former Equitable Building, according to landlord Silverstein Properties. It will relocate its employees from its current headquarters at 51 Madison Avenue in Midtown South and from a satellite office at 40 Wall Street by the end of 2020 and bring them together under one roof. Thornton Tomasetti has operated in the two separate offices since its 2015 merger with Weidlinger Associates.
Asking rents at 120 Broadway range from $62 to $74 a square foot.
“This newly renovated space is a great platform to unite our 400-plus New York staff in a single location,” said Thomas Scarangello, Thornton Tomasetti’s executive chairman, in a statement.
Silverstein recently completed a $50 million renovation of the 40-story Beaux-Arts tower between Pine and Cedar Streets. The work included a restoration of the gold-leaf lobby, a revamp of the top-floor Banker’s Club into a rooftop terrace with a restaurant and cocktail bar, updates to the lobby and retail spaces and bike storage with lockers and showers.
“We’ve taken a lot of care with this building to create a collaborative and fun environment for some of the world’s most creative professionals in every industry,” said Larry Silverstein, the chairman of Silverstein Properties, in prepared remarks.
Silverstein’s Joseph Artusa handled the transaction in-house for the landlord, and Mary Ann Tighe, Tim Dempsey, Steve Eynon, Brendan Herlihy and Marlee Teplitzky of CBRE represented the tenant.