New York & Tri-State + Midtown New York + Office | February 20, 2019

Savills Studley Subleases Two KBRA Spaces at 845 Third

Savills Studley has closed the loop on Kroll Bond Rating Agency’s (KBRA) relocation strategy. After representing the credit rating agency in its move to 95,000 square feet at 805 Third Ave., the Savills Studley team of David Carlos, Kurt Handschumacher and David Dwight arranged subleases of its previous space at 845 Third Ave.

The fourth-floor space of 26,000 square feet at 845 Third was subleased to Lee & Associates. The Savills Studley team subleased KBRA’s former eighth-floor space, totaling 10,000 square feet, to law firm Ostrolenk Faber LLP.

“845 Third was unable to accommodate KBRA’s rapid growth, forcing the tenant to relocate well in advance of its lease expiration,” said Carlos. “Promptly subleasing these spaces enables KBRA to recoup significant dollars that can now be invested in its enterprise. In a crowded sublease market, we were able to implement the last phase of a two-year strategic growth plan for KBRA.”

Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Savills Studley's Carlos

About Paul Bubny

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).