Innocence Project Renews, Expands at GFP’s 40 Worth St.
Savills has completed a lease renewal and expansion for nonprofit organization the Innocence Project at GFP Real Estate’s 40 Worth St. The new lease nearly doubles the tenant’s presence at the 755,000-square-foot property to about 34,000 square feet.
The expansion entailed a three-party transaction involving the Innocence Project’s neighboring tenant, Maesa, which sought to relocate from the 100% occupied 40 Worth. Savills arranged for Maesa to cancel its lease with ownership four years early, and the Innocence Project leased 18,250 square feet of Maesa’s space for expansion, shed a small portion of its own space and renewed its remaining envelope.
Savills’ John Mambrino, Nicholas Farmakis and Ariel Wolf represented the Innocence Project. GFP Real Estate was represented by Roy Lapidus.
Built in 1929, 40 Worth is located between Church Street and West Broadway. Building tenants include an array of nonprofits, along with the East Coast headquarters of Gap Inc.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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