February 20, 2019
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.”
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