JLL represents Gresham Investment Management in move to Midtown South hub for tech, finance and creative companies.
News release
10 June 2024
Hedge fund manager relocates
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NEW YORK, June 10, 2024 – JLL announced today it represented Gresham Investment Management in a relocation to 19 Union Square West, a 12-story office building in Midtown South owned by 17-19 Associates LLC.
A subsidiary of Nuveen Investments, the hedge fund manager will relocate from 257 Park Ave. South to occupy the entire 9,233-square-foot 11th floor of the property. The space was previously occupied by IBM, which is consolidating its New York City workforce at One Madison Ave.
Ownership will refurbish the space ahead of Gresham’s arrival in Q3 2024 to highlight its Union Square Park views and high ceilings, while reconfiguring the layout to accommodate individual offices and installing new bathrooms.
Gresham Investment Management was represented by JLL Managing Director Scott Vinett and Chris Joyner of Fischer Corporate Real Estate. Ownership was represented by ABS Real Estate Partner Ben Waller and Executive Managing Director James Caseley.
“19 Union Square West presented Gresham with an opportunity to secure elevated office space in a vibrant, commuter-friendly location,” said Vinett. “The building offers beautiful views of the park, has great light and air and is well located for transportation, providing an ideal environment for tenants.”
Originally constructed in 1911, 19 Union Square is a 12-story 121,548-square-foot office and retail building situated on the corner of East 15th Street and Union Square. Ownership has maintained the property as an appealing boutique with a diverse roster of tech, finance and creative companies.
The property offers 24-hour access and an attended lobby as well as easy connectivity to Downtown, Midtown and Brooklyn. It is surrounded by a vibrant neighborhood that includes the year-round Union Square Green Market, trendy shops and restaurants and a residential population of 72,000, according to the BID.
“Union Square is undoubtedly one of Manhattan’s most dynamic live-work neighborhoods whose appeal is reflected in the speed with which we have been able to lease the entire 27,699-square-foot space vacated by IBM,” said Waller.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.