NEW YORK CITY – In a move that brings approximately 180 employees from various cities throughout the United States to a new headquarters in lower Manhattan, Colliers International has arranged a 15 year, 41,000-square-foot corporate relocation on behalf of AFS-USA to Silverstein Properties’ 120 Wall Street.
Formerly the American Field Service, AFS-USA is a non-profit leader with the mission of working toward a more just and peaceful world by providing international and intercultural learning experiences to individuals, families, schools, and communities through a global volunteer partnership. Founded in 1947, AFS-USA has served more than 400,000 students and young adult professionals around the world.
To run a more efficient organization, AFS-USA has decided to consolidate and relocate its four existing offices — one each in Baltimore; Portland, Oregon; St. Paul, Minnesota; and 1 Whitehall Street in Manhattan — to 120 Wall Street. The organization will occupy the entire fourth floor as well as space on the third floor. AFS-USA is scheduled to move into its new space by the end of 2013.
“After a thorough analysis of the four AFS-USA offices across the U.S., including their staffing, travel, recruitment, and operational considerations, we recommended that they bring their entire team into more efficient, high-end space at one location in Lower Manhattan,” said Alan Desino, an Executive Managing Director with Colliers International, who arranged the lease on behalf of AFS-USA.
Desino noted that AFS was also attracted to 120 Wall Street because the building is owned and operated by one of Manhattan’s premiere landlords, and is one of the few Manhattan office addresses designated as an Association Center, and thus part of a 501C3 tax incentive program sponsored by the State of New York.
Roger Silverstein and Joe Artusa, of Silverstein Properties, represented the landlord in the transaction.
“We are delighted to welcome AFS-USA to 120 Wall Street,” said Roger Silverstein, Executive Vice President, Silverstein Properties. “For nearly 20 years, 120 Wall Street has been New York City’s exclusive home to not-for profit organizations. Not only do these organizations benefit from no real estate tax payments in a first-class modernized building, they are an integral part of the great future of Downtown Manhattan — the City’s fastest-growing and most exciting neighborhood. We look forward to a great relationship with this industry leading organization for many years to come.”
Located on an entire block between Pine Street and Maiden Lane, 120 Wall Street is a 34-story, 615,000-square-foot class A office building commanding unobstructed views of the East River. Nearly completed is a capital improvement program to modernize the building’s facade, lobby, and elevator cabs.
As the latest addition to the building, AFS-USA joins a roster of nonprofit organizations at 120 Wall Street including American Institute of Chemical Engineers, American Foundation for AIDS Research, Jewish Child Care Association, National Urban League, Freedom House, and Children Tumor Foundation, among many others.
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.