Business fills 26,000 s/f void at 1 Liberty Plaza - Bevmax Office Centers

Real Estate Weekly, Feb 18, 2004

In a move that will double their corporate space, Bevmax Office Centers has opened a new executive office center at 1 Liberty Plaza, one of the preeminent office towers in the heart of the Financial District and directly east of the Freedom Tower site.

The announcement was made by Fredric Feld, Bevmax Office Centers President.

Bevmax will occupy 26,000 square feet of sub-lease space on the building's 23rd Floor, roughly three quarters of the floor.

In a sign of the resurging Downtown office market, Bevmax has already signed on five small businesses as new clients within the office center within one week of Bevmax's taking occupancy. In less than a week after taking occupancy, Bevmax has also signed five small businesses as clients within the workspace.

Bevmax Office Centers www.bevmaxoffice.com feature turnkey, professional, fully wired and furnished offices, including the latest telephone and broadband Internet technology, conference rooms, reception service, a gourmet pantry, mailroom and secretarial services. Businesses with an immediate need to conduct operations can move into a Bevmax Office Center within the same day of signing a client agreement.

Michael Cohen and Bob Tunis of GVA Williams represented Bevmax in the sublease transaction with the Bank of Nova Scotia, which retains a substantial amount of space at 1 Liberty Plaza. The Bank of Nova Scotia was represented by Bruce Surry of CB Richard Ellis.

The new Bevmax space at 1 Liberty Plaza had been vacant since 9/11. The former occupant of the space--another temporary workspace provider--was put out of business by the terrorist attack.

Mr. Feld said, "At first, when I learned that the former HQ Office Center was available, I associated that space with the horror and tragedy of 9/11 and, quite honestly, did not want anything to do with it. However, in the past six months, that mindset has turned around 180 degrees. With the new plans for the Freedom Tower, the memorial, and the commitment of a number of substantial firms to the Financial District including Cadwalader Wickersham and Taft, I began to realize that the Financial District would rebound even stronger from the attacks, and I wanted my business to be a part of it."

Other Bevmax Office Centers are located at 1560 Broadway in Times Square and at 500 Seventh Avenue, conveniently located between Penn State and the Port Authority Bus Terminal.

Mr. Feld concluded, "To me, the former World Trade Center site is hallowed ground, but it has also become a symbol of America's undefeated strength and resolve.

"I want to offer my clients a chance to conduct their business just across from the new Freedom Tower and to feel the positive resurgence it represents."