Internal Tower Floor Relocation

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Client
  • Annaly Capital Management, Inc.
Space
  • 42,436 sq. ft.
Industry
  • Financial Services
  • Capital Management
Locations
  • New York
Services Provided
  • Transaction Management
  • Project Management
  • Consulting
  • Workplace Intelligence
Cresa Team
  • James A. Pirot

Client Objectives

Annaly undertook a complete assessment of its location options. Its employees, who commute from all five New York City boroughs, plus Long Island, Connecticut, and New Jersey, needed extensive transportation infrastructure. Annaly’s operations needed space for additional staff and the facilities infrastructure to continually maintain business operations.

Results

Cresa negotiated a lease with below market rents and above market concessions by understanding that the building’s new ownership was under great pressure to complete the transaction. The Team obtained direct access to the building’s back-up generator as well as other concessions on the  build-out. Consulting demonstrated how space efficiencies could be obtained. 
The Cresa Team provided insightful and professional support throughout this process, including: the initial analysis of our space needs; the critical review and assessment of physical plant; and the negotiation of lease terms and final execution of the agreement. Their efforts helped us to make a move that satisfies our business needs for the now and the distant future.
Dennis E. Malloy  |  Director, Human Resources and Administration
Annaly Capital Management, Inc.
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