J.Crew Could Renew for 300K SF at LEED Silver 770 Broadway

In what would be a 300,000-square-foot deal, J.Crew is looking to stay put at the historic, LEED-EB: OM Silver-certified 770 Broadway, which was built in 1905 and designed by Daniel Burnham.

770 Broadway - Vornado - Manhattan Commercial Real Estate

J.Crew is in talks to renew its lease for 300,000 square feet at Vornado’s historic LEED-EB: OM Silver-certified 770 Broadway. The company currently occupies part of the 10th and all of the 11th, 12th, and 13th floors at the 1.1 million-square-foot, 15-story tower, which dates from 1905 and was once the home of the Wanamaker Department Store.

Sources told Real Estate Weeklywhich reported on J.Crew’s discussions earlier today – that the company had been looking at moving downtown, intrigued by lower rents at SL Green’s 100 Church Street. But those same sources considered such a deal unlikely; J.Crew expanded at 770 Broadway in 2009 in order to consolidate offices from 15 Penn Plaza (also owned by Vornado). As REW pointed out, “770 Broadway is something of a unique asset, a large Class A quality office building in Midtown South, a neighborhood known more for its second tier office stock. If J.Crew was to relocate, it probably would have had to travel to either Midtown or lower Manhattan in order to find a building of comparable quality, areas with a discernably less hip vibe.”

Originally designed by Daniel Burnham (of Flatiron Building fame), 770 Broadway’s $35 million renovation project included a lobby renovation, new energy-efficient windows, and an upgraded HVAC system. Perhaps its most high-profle tenant – AOL – is in pursuit of a LEED for Commercial Interiors rating for its 228,000-square-foot headquarters space, designed by architects Mancini Duffy.

About Stephen Del Percio

Stephen Del Percio has written for gbNYC+ since 2006 and currently serves as in-house counsel for one of the world's largest engineering, construction, and technical services companies. He earned a B.Eng. from Columbia, his J.D. at William & Mary, and lives in New York City with his wife and daughter. You can follow Stephen on Twitter, email him at stephen@gbNYC.com, or join gbNYC on Facebook to continue the conversation.

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gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

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