Contact for more information:
Valerie Brodie
Vice President
Worldwide Marketing
Computer Generated Solutions, Inc.
212-261-2074
vbrodie@cgsinc.com
Computer Generated Solutions Inc. Commits To Long-Term Lease At Three World Financial Center
New York, NY - October, 5, 2004 - In yet another sign of a re-energized Downtown Manhattan market, Computer Generated Solutions, Inc. (CGS), a 20-year old privately held provider of system integration, software, training, technical help desk solutions, and managed services, has committed to a 40,265-square foot ten-year lease at Three World Financial Center. The firm will relocate and expand its world headquarters, currently comprising 37,000 square feet of space at 1675 Broadway in Midtown, by the first quarter of 2005.
CGS will occupy the entire 27th floor of the 2.1 million-square-foot office tower located in the heart of Downtown Manhattan. Brookfield Properties owns 1.1 million-square feet of Three World Financial Center.
The CB Richard Ellis team of Michael R. Laginestra and Stephen Eynon represented CGS in direct negotiations with Dennis Friedrich, Michael Berman and David Cheikin of Brookfield Properties.
"This is truly a win-win situation. CGS secured a long-term home in a location, which satisfies a two-year search for its ideal corporate headquarters. Downtown benefits from a high-profile migration from Midtown that will add over 200 jobs to the burgeoning Financial Center," said Mr. Eynon. "This is a significant move for CGS, as it provides the firm with the perfect platform to meet its current space requirements as well as any future expansion."
According to Phil Friedman, Chief Executive Officer of Computer Generated Solutions, "Computer Generated Solutions has been in New York for over 20 years and we are thrilled to have found a new location within the city. Three World Financial Center is the perfect fit for CGS. The new space provides us with the facilities we need as our business grows and affords us the opportunity to keep our roots here in Manhattan, today and in the future."
"I am very pleased to welcome a company of CGS's caliber to our tenant roster at Three World Financial Center," said Dennis Friedrich, President & COO of Brookfield's U.S. Operations. "Over the past few years Lower Manhattan has experienced a dramatic turnaround, thanks in part to a strong commitment by large firms to relocate to the submarket and take advantage of everything this area has to offer."
In addition to the 40,265-square-foot lease at Three World Financial Center, CBRE has represented CGS in a number of national assignments including a 40,000-square-foot commitment in Atlanta; a 6,000-square-foot lease in Los Angeles and a 20,000-square-foot disposition in Dallas.
About Computer Generated Solutions, Inc.
Computer Generated Solutions (CGS) is a leading provider of system integration, software, training, and managed services to businesses and government agencies worldwide. CGS enables organizations to adapt and implement advanced technologies throughout their enterprise by delivering expert, cross-industry solutions on multiple platforms. By integrating with clients' core business operations, CGS offers a broad array of services including e-business consulting and application development, ERP and CRM solutions, system integration, learning services, technical help desk, and professional staffing. CGS delivers The Composite Solution®, an integrated suite of services reflecting a broad range of technology and business practices. The result is a comprehensive set of solutions to meet the needs of a growing enterprise. Established in 1984 and headquartered in New York City, CGS maintains a presence in 20 locations around the globe, including the United States, Canada, and India.
About CB Richard Ellis
Headquartered in Los Angeles, CB Richard Ellis is a leading global commercial real estate services firm. With more than 13,500 employees in 220 principal offices worldwide, the company serves real estate owners, investors and occupiers. CB Richard Ellis' core services include strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. CB Richard Ellis is a public company, listed on the New York Stock Exchange under the symbol CBG.
About Brookfield Properties
Brookfield Properties Corporation owns, develops and manages premier North American office properties. The Brookfield portfolio comprises 48 commercial properties and development sites totaling 46 million square feet, including landmark assets such as the World Financial Center in New York and BCE Place in Toronto. Brookfield trades on the New York and Toronto stock exchanges under the symbol BPO.
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