{"id":32386,"date":"2021-11-08T11:18:32","date_gmt":"2021-11-08T08:18:32","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=32386"},"modified":"2025-03-25T16:09:15","modified_gmt":"2025-03-25T13:09:15","slug":"columbia-property-signs-bain-799-broadway","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/columbia-property-signs-bain-799-broadway\/","title":{"rendered":"Columbia Property Trust Inks 2nd Lease Deal at 799 Broadway"},"content":{"rendered":"

Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease for the building. Bain Venture Capital will occupy the entire 10th floor \u2013 roughly 8,756 square feet \u2013 of the 10-story Manhattan office space<\/a> on a 10-year contract. Asking rent was between $150 and $200 per square foot<\/a>.<\/p>\n

Benjamin Bass,\u00a0Mitchell Konsker,\u00a0Steven Rotter\u00a0and\u00a0Sam Seiler\u00a0of JLL conducted the negotiations on behalf of the landlord, while Bryan Boisi\u00a0of\u00a0Cushman & Wakefield\u00a0<\/strong>represented the tenant.<\/p>\n

The new tenant is part of the venture capital arm of investment firm Bain Capital, which is currently located at the nearby 632 Broadway. Its move into the new location is scheduled for the second quarter of 2022.<\/p>\n

\"Manhattan

Image courtesy of Binyan Studios<\/p><\/div>\n

Bain Capital\u2019s signing follows online mortgage lender Newrez\u2019s deal in October<\/a>. Owned by New Residential Investment Corp., Newrez relocated from 1345 Sixth Ave. to 799 Broadway, where it leased a total of 25,000 square feet across two floors. As part of the agreement, the firm also has access to four outdoor terraces totaling 2,700 square feet, a communal garden, gym, lounge and bike room.<\/p>\n

The site on which 799 Broadway is currently being built previously housed a Civil War-era commercial property. In 2018, Columbia Property Trust bought a 50% stake\u00a0in the building from\u00a0Normandy Real Estate Partners for $70 million, eventually deciding to demolish the existing structure and replace it with an 180,000-square-foot boutique glass office building.<\/p>\n

In 2019, Columbia acquired Normandy Real Estate Partners, assuming ownership of all of Normandy\u2019s assets across the United States. Columbia Property Trust itself is currently set to be acquired by PIMCO in a deal\u00a0valued around $2.2 billion, or $3.9 billion with assumed debts factored in.<\/p>\n","protected":false},"excerpt":{"rendered":"

Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease for the building. Bain Venture Capital will occupy the entire 10th floor \u2013 roughly 8,756 square feet \u2013 of the 10-story Manhattan office space on a 10-year contract. Asking rent was between $150 and $200 per square foot.<\/p>\n","protected":false},"author":56,"featured_media":32429,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,4014,39],"tags":[],"class_list":["post-32386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nColumbia Property Secures 2nd Tenant at 799 Broadway - Commercialcafe<\/title>\n<meta name=\"description\" content=\"Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/columbia-property-signs-bain-799-broadway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Columbia Property Trust Inks 2nd Lease Deal at 799 Broadway\" \/>\n<meta property=\"og:description\" content=\"Columbia Property Trust signed its second tenant at its ongoing development at 799 Broadway, just one a month after securing its first lease...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/columbia-property-signs-bain-799-broadway\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-08T08:18:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-25T13:09:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2021\/11\/799-Broadway-2-Credit-Binyan-Studios.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/columbia-property-signs-bain-799-broadway\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/columbia-property-signs-bain-799-broadway\/\",\"name\":\"Columbia Property Secures 2nd Tenant at 799 Broadway - 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