Boston, MA (01/03/2017)
Newmark Grubb Knight Frank (NGKF) represented The First Marblehead Corporation (First Marblehead) in a long-term, 32,198-square-foot lease at 200 Clarendon Street in Boston. First Marblehead signed the lease following NGKF's strategic analysis of suitable, local options for the company's new location. First Marblehead is a leading provider of private student loan solutions for lenders, credit unions and schools.
Relocating from 1 Cabot Road in Medford, Massachusetts, First Marblehead selected NGKF to assist in finding a more efficient space located in the city. NGKF Executive Managing Directors William Anderson and Michael Frisoli led the brokerage team representing First Marblehead in the search for its new space along with U.S. Head of Capital Markets Robert Griffin. Anderson, Frisoli and Griffin provided site selection analysis for the corporation, along with lease negotiations and financial analyses. The team ultimately secured 32,198 square feet at 200 Clarendon Street based on its location. First Marblehead will take occupancy of the new space summer of 2017.
"First Marblehead has helped clients process over 6.5 million loan applications," said Anderson. "To attract the employees they need to handle that type of workload, they need to offer their employees great workspace and easy access to public transportation."
Located in the heart of Boston's Back Bay neighborhood, 200 Clarendon Street is a 62-story, 1,700,000-square-foot office building offering convenient access to the Massachusetts Turnpike and public transportation at Back Bay Station. New England's tallest building; the iconic tower offers panoramic views of the Back Bay, Cambridge, Charles River, Boston Harbor and surrounding area. 200 Clarendon Street features a café, a private underground parking garage, three bank ATM's as well as 24-hour security assistance. Building ownership, Boston Properties, was self-represented.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.