Flexible Office Provider Takes Two Additional Floors at the 32-Story, 928,000 SF Downtown Office Tower
Knotel, the leading flexible office space provider, announced today it is expanding its footprint at 110 William Street, a 928,000 square-foot class A office tower in Lower Manhattan owned by Savanna and KBS Capital Advisors.
Knotel will now occupy approximately 117,000 square feet covering three full floors at the 32-story building, expanding by 80,650 square feet after completing a 35,848 square-foot lease on the 17th floor in August 2018.
As part of the new agreement, the flexible office provider will take the entire 7th and 8th floors in addition to the 17th floor already leased.
“As we’ve seen across the portfolio, interest in buildings and submarkets increases when Knotel is there. With our existing floor already occupied by a client, we are pleased to add two more spaces at 110 William,” said Eugene Lee, Chief Investment Officer at Knotel. “Expanding relationships with ownership groups like Savanna and KBS is also a key component of being able to better serve our clients.”
Constructed in 1918 as a 15-story building, the property was increased in height to 32 stories in 1959 via an expansion led by architect Sylvan Bien. Since Savanna and KBS acquired the building in 2014, the tower has been renovated for modern office use. Recent capital improvements include a new lobby, a façade renovation, and upgraded bathrooms and corridors.
Knotel was represented in the long-term transaction by Greg DiGioia and Michael Morris of Newmark Knight Frank. Building ownership was represented by Hal Stein, Todd Stracci and Travis Wilson from Newmark.
Knotel – which designs, builds and operates custom spaces for companies of 50 employees or more – caters to established and growing brands. Today, over 200 companies call Knotel home, and the firm continues to expand rapidly in new domestic and international markets.
About Knotel
With over 3 million square feet across 200 locations in New York, San Francisco, Los Angeles, London, Paris, Berlin and São Paolo, Knotel is transforming the way we work with its flexible office platform. Making long-term leases a thing of the past, Knotel designs, builds, and operates custom spaces for enterprises, so business leaders can focus on building the future.
Founded in 2016, Knotel has raised $160 million in funding, and was named a Business Insider Top 50 Startup and New York's Hottest New Workspace Model. Knotel’s member network includes companies like Starbucks, HotelTonight, and Omnicom. Visit knotel.com.
