Arup, a global consultancy focused on sustainable development, is relocating its New York City operations. The company signed a lease for approximately 100,000 square feet at 140 Broadway, a 51-story office building in Manhattan’s Financial District owned by Union Investment.
While the specific terms of the agreement remain undisclosed, sources indicate that Colliers’ Robert Tunis and Eric Ferriello collaborated with LegacyNY to broker the 16-year and six-month lease, which will provide Arup with 99,400 square feet across the 17th through 20th floors of the building.
“We’ve decided to relocate our New York office with the goal of inhabiting a new space that sets us up for improved collaboration; greater flexibility; and an enhanced ability to partner with and support our local, regional and global clients,” said Kyle Fisher, who co-leads Arup’s New York office.
The office tower at 140 Broadway also houses several other prominent tenants, including law firms Hawkins Delafield & Wood and Labaton Keller Sucharow, as well as the trading firm Susquehanna International Group.
The consultancy firm will move out of its current location at 77 Water St., a space that Arup has occupied for more than a decade. The owner of that property, Vanbarton Group, recently secured a $280 million loan for an office-to-residential conversion project. While the exact size of Arup’s previous footprint at 77 Water St. is unknown, the new lease at 140 Broadway is expected to provide the firm with enhanced flexibility.
Known for its design contributions to globally recognized landmarks like the Sydney Opera House, the Water Cube in Beijing and the London Aquatics Centre, Arup operates through a network of 96 offices worldwide, according to its website. The firm’s recent lease at 140 Broadway fills a significant portion of the available office space in the 1.25-million-square-foot tower. Yet, even after Arup’s commitment, it still has approximately 300,000 square feet of office space being actively marketed.
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