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September 1, 2010
City takes 82K square feet at MetroTech
Inks 20-year lease for office and data-center space for Department of Information Technology and Telecommunications.
Crain's NY Business
by Jeremy Smerd
Inventory was getting a little flabby at Bruce Ratner's MetroTech complex, so guess what? We New York City taxpayers just bailed him out by taking more space!
The city's Department of Citywide Administrative Services has signed a lease for 81,800 square feet at 2 MetroTech Center in downtown Brooklyn. The asking rent was $35 a square foot.
The space, which is under a 20-year lease that officially began in May, will be used by the city's Department of Information Technology and Telecommunications, which plans to use it for offices and a data center. DoITT will take over the entire second floor and part of the fifth floor—64,000 square feet—in the 20-year-old, 10-story property. The remaining nearly 18,000 square feet will be used for the city's expanded data center.
That's just a drop in the bucket, however.
The city already leases 216,000 square feet at 11 MetroTech Center. That lease was first signed in 1993 and amended in 2004 with an option to extend until 2020.
NoLandGrab: Yes, folks, the city leases the equivalent of 1/3 of the entire Atlantic Yards footprint at MetroTech.
Posted by eric at September 1, 2010 7:23 PM