A Fresh Take on CRE

Weekly Comps Digest: Liberty Mutual Downtown, eMarketer at 11 Times Square, Subleases at 340 Madison




Liberty Mutual Doubles Space Downtown

Liberty Mutual renewed and expanded its existing lease at 55 Water. The original lease from 2002 was for roughly 63,000 SF and the new lease is for 132,000 SF. The insurer will be paying slightly above the Downtown current three month moving average of $37 PSF. Liberty Mutual also received an impressive concessions package in the $60's PSF.




A New Lease at 11 Times Square

eMarketer is Microsoft's and Teza Technologies' most recent neighbor at 11 Times Square. The independent market research company will relocate from 75 Broad and pay rent in the mid $60s for a 53,573 SF office. The rent is in line with the rents of other tenants in the building.
Get the eMarketer comp on CompStak Get the Microsoft comp on CompStak Get the Teza Technologies comp on CompStak




Digital Advertising Company Scores a Tech-Friendly Sublease at 340 Madison Ave

Undertone will sublease 40,538 SF on the eight floor of 340 Madison Ave from the software and technology service company SunGard. Undertone will be paying rent in the high $40s for the six year sublease. SunGard currently has floors six thru eight for rent in the mid $70s PSF and is subleasing the sixth floor to Twitter for about $50s PSF.