News
BROOKFIELD'S DOUBLE; MACY'S EXPANDS; THE DEAL SHEET
November 1, 2011
| Baseball season may be over, but Brookfield Office Properties has hit a double: Bank of America/Merrill Lynch just inked a 767k SFlease renewal at Two and Four World Financial Center, while Brookfield agreed to purchase the tenant’s 49% interest in 4 WFC for$264M. |
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| BofA/Merrill’s lease is the second largest in Lower Manhattan this year, following Condé Nast’s 1M SF blockbuster at One World Trade Center. It also marks 1.4M SF signed at World Financial Center this year. And following Brookfield’s purchase of BofA/Merrill’s interest, the REIT now owns 100% of the 1.9M SF building and is the largest office landlord in the submarket (in addition to the 8M SF World Financial Center, it also owns One Liberty Plaza and One New York Plaza). |
