Exterior of 120 Broadway

Thornton Tomasetti Leases 102K SF at 120 Broadway

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 TigheTim Dempsey, Steve EynonBrendan Herlihy and Marlee Teplitzky of CBRE represented the tenant.

MORE ARTICLES

2020 Power 100 - #7 on Commercial Real Estate's Most Powerful Players READ MORE
This massive $2 billion cultural hub could be coming to Astoria READ MORE
529 Fifth Avenue Gets a Fresh Look in Midtown MORE
Downtown Alliance Launches Small Business Rental Assistance Grant MORE
Dino Fusco joins Silverstein Properties - Goldman Sachs real estate leader to become company’s Chief Operating Officer MORE
Wellness Concept Hydra Studios Signs Retail Lease at 120 Wall Street MORE
Silverstein lands law firm at 1735 Market, open to additional Philadelphia deals MORE
Nationally Ranked Law Firm Cozen O'Connor Signs 77,000-Square-Foot Lease at 3 World Trade Center MORE