Holborn Leases 25,000-SF at 180 Maiden

Clarion, MHP Ink First Deal at Newly Acquired Office Tower in the Midst of $28M Renovation

Holborn Corporation, a leading independent reinsurance broker, has leased 24,618 square feet at 180 Maiden Ln. in New York City.

This is the first lease deal at Continental Center for new joint-venture owners Clarion Partners and MHP Real Estate Services, which acquired the asset in January 2015 for $470 million, according to CoStar data. See CoStar COMPS #3201728.

The 41-story, 1.19 million-square-foot, 4-Star office tower was built in 1984 on 1.1 acres in Manhattan's Financial District submarket, between Front and South Streets and steps from South Street Seaport. It features panoramic views of New York Harbor and the Brooklyn Bridge as well as access to numerous public transportation options including the renovated Fulton Street hub and East River ferry landings.

"We are thrilled to be the first new tenant at the new 180 Maiden Lane," said John DiGregoria, executive vice president, COO and CFO at Holborn. "The views are spectacular and our employees will enjoy access to the waterfront and many other amenities in and around the building. The attractiveness of this location will only continue to improve as nearby South Street Seaport is redeveloped."

Continental Center is undergoing a planned $28 million renovation by Clarion and MHP. Enhancements will include extensive public plaza upgrades with a new retail kiosk, high-end finishes to reception and security areas, renovations to the full-service cafeteria, a new fitness studio and conference center, and upgraded elevator cab finishes and controls.

"Downtown Manhattan is in the midst of a substantial renaissance," noted Tara Stacom, executive vice chairman of Cushman & Wakefield, Inc. "The highly amenitized building’s easy access to both Pier 15 on the East River and the redeveloping South Street Seaport neighborhood make this a compelling location for tenants looking to attract the highest quality workforce."

Richard Levine with CBRE represented the tenant. Tara Stacom, Robert Lowe, Justin Royce, and Frank Cento with Cushman & Wakefield, Inc. represented the landlord along with MHP's Jesse Rubens, Richard Doolittle, and James Tamborlane.