New York, NY – February 5, 2019 – Cushman & Wakefield announced today that the real estate services firm has arranged a long term lease for The Wallace Foundation, a New York-based foundation, at 140 Broadway in Lower Manhattan. The space will serve as the new headquarters for The Wallace Foundation, which will occupy the entire 49th floor, totaling 26,206 square feet.
Cushman & Wakefield’s Andrew Chase, Carri Lyon and Wes Rudes represented the tenant, and Cushman & Wakefield brokers Robert Constable, Myles Fennon and Edward “Mac” Mombello represented the landlord, 140 BW LLC, in this transaction.
With assets of approximately $1.5 billion, The Wallace Foundation is one of the nation’s 50 largest private foundations whose mission is to foster learning and enrichment for disadvantaged children and the vitality of the arts for everyone. The Wallace Foundation traces its roots back a half century to DeWitt and Lila Acheson Wallace, founders of Reader’s Digest Association.
“The Wallace Foundation was looking for a space that supports the foundation’s culture and collaborative and interdisciplinary work process,” said Carri Lyon, Co-Chair of Cushman & Wakefield’s National Not-for-Profit Advisory Group. “140 Broadway offers a bright, open space for the foundation’s new headquarters with the convience of a highly-accessible location.”
140 Broadway features modern amenities and holds a prominent place in the Lower Manhattan skyline. The building is continually implementing sustainable initiatives, and currently holds LEED Gold certification along with tenant access to Citi Bikes and a bike room.
Robert Constable of Cushman & Wakefield added, “140 Broadway is thrilled to welcome this prestigious foundation to the building. The Wallace Foundation will benefit from the property’s ideal infrastructure and unparralled transit accessibility.”
Located in Lower Manhattan’s Financial District, 140 Broadway is located in a neighborhood infused with new energy and easy access to transportation.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.