Friday, October 03, 2008

KPMG Staying Downtown!

KPMG has renewed its lease of 45,000 sf in the Equitable Building at 10 S. Broadway. The firm is committing to downtown for 10 more years and plans to hire approximately 40 more employees over the next three to five years (it currently employs 270).

KMPG cited downtown’s close proximity to employees on both sides of the river among its reasons for remaining downtown. I’m sure a comparatively affordable lease – the Equitable Building’s asking rate is $21 psf – played a role as well. It would be difficult to get space of that quality in Clayton for a comparable price.

When a firm made up of professional number-crunchers like KPMG chooses downtown, that must mean it’s a smart financial decision!

No comments: