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Mr. Taubin, you recently negotiated a 35,000-square-foot lease at 1359 Broadway for menswear manufacturer Capital Mercury. Why did you choose to show the company this building?
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GT: Capital Mercury's lease was expiring at 1372 Broadway, where it had been approximately 20 years. The firm wanted to stay in the area, and 1359 Broadway was an attractive alternative, since the landlord was repositioning the building with an aggressive capital improvement program.
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What were Capital Mercury's specific needs that the building met?
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GT: 1359 Broadway provided Capital Mercury the opportunity to design new office space appropriate for both its current and future requirements. The building's large floorplates enabled the company to design a highly efficient layout, and the excellent natural light meant that employees could enjoy a bright work environment. In addition, Capital Mercury required flexibility in terms of certain lease options to expand or consolidate during the lease term, and ownership was amenable to this.
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What do you view as the main advantages of 1359 Broadway?
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GT: I perceive the main advantages to be the extensive renovations, as well as the hands-on ownership that takes great pride in maintaining buildings in its portfolio.
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What was the leasing process like?
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GT: W&H was very responsive to our questions and requests during the leasing process. Any information we needed on building systems and construction costs was provided in a timely manner. W&H continually expressed its desire to welcome Capital Mercury into the building. This encouragement, along with W&H's commitment to closing the deal, helped it get done.
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