TD Ameritrade Lease Signifies Lower Manhattan Revival
TD Ameritrade signed a 10-year lease for the 9,509 square-foot space at 100 Broadway. Located on the corner of Broadway and Pine Streets. According to Gene Spiegelman of Cushman & Wakefield, “It’s a great corner space in the heart of the Financial District and steps from Wall Street, which lends itself well to a prominent financial institution like TD Ameritrade.” Spiegelman represented Madison Capital with Michael O’Neill for the deal.
Borders Bookstore previously used the space before they went bankrupt. TD Ameritrade’s new lease, along with Duane Reade’s lease in 2011 of 25,000 square-feet completes the lease of the 35,000 square-foot space.
This new lease is indicative of the upswing of downtown retail. Borders’s bankruptcy really demonstrated the worst of times, financially. On the other hand, this new lease seems to represent downtown’s revival, as brokers can finally see their efforts materializing, spearheaded with 1 World Trade Center (with Conde Nast as the anchor) and the repositioned Brookfield Place, formerly known as World Financial Center.
“Those projects are the drivers of the marketplace and are constantly moving the market forward. It’s not a stalled situation anymore, where people are wondering what’s going to happen. Things are happening,” explained Spiegelman.