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Macmillan Science and Education Leases 176,000 SF at One New York Plaza

Publishing Co Relocating to Downtown Office Tower
March 26, 2014
The Macmillan Science and Education group of companies, part of the Holtzbrinck Publishing Group, has signed a long-term, 176,121-square-foot headquarters lease at 1 New York Plz in New York City.

The 50-story, 2.59 million-square-foot, 4-Star office tower was built in 1970 on 2.8 acres in the Financial District submarket, bordered by Water, South, Park, and Broad Streets in downtown Manhattan. It offers panoramic views of the New York Harbor and New York skyline, in addition to several contiguous floors readily available and large enough to accommodate the tenant's needs, including virtually column-free floorplates measuring 65,000 square feet.

With more than 5,700 employees in over 50 markets, the privately-held, international publishing group will relocate approximately 950 New York City-based employees that are currently spread around several locations when it takes occupancy in mid-2015 of its new space on the entire 46th - 48th floors and a portion of the 45th.

"After a thorough analysis of Macmillan Science and Education’s New York City real estate program, its operational needs, and the continued evolution of Downtown, it was determined that Lower Manhattan offered the best overall solution," said Leon Manoff, a vice chairman with Colliers International, who arranged the lease on behalf of Macmillan Science and Education.

Owned by Brookfield Office Properties, One New York Plaza is currently undergoing a $14 million redevelopment to its retail concourse that will eventually include 40,000 square feet of quick-casual eateries, a gym, a health and beauty store, a coffee shop, and other services expected to be available by the end of 2014. Adam Foster and Peter Turchin with CBRE represented the landlord.

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