This news broke last summer, but Broadcast Music, Inc. is set to move at the end of the week into new headquarters space at the SOM-designed, LEED Gold-certified 7 World Trade Center. Last July, BMI subleased 58,000 square feet on 7 WTC’s 30th and 31st floors from ABN Amro, a Dutch bank which had signed up with Silverstein Properties for 140,000 square feet, but never made it into the building thanks to the credit crisis. This past Friday, BMI closed its former headquarters on West 57th Street in Midtown and will complete its move into the 52-story, 1.1 million-square-foot tower by May 14. BMI was represented in the deal by Cushman & Wakefield with Grubb & Ellis for ABN Amro.
7 WTC has been a consistent bright spot in the commercial real estate market, particularly given the diverse mix of tenants it has attracted outside of the financial services sector. The building offers compelling – though purely anecdotal – support for the proposition that certain types of tenants do see additional value in Class A office space that also offers the LEED label. As you’ll recall, 7 WTC was the first commercial office building in New York City to earn LEED certification from USGBC, and we’ve followed leasing activity at Larry Silverstein’s tower fairly closely here at gbNYC since it copped Core and Shell Gold back in March of 2006.