New York- September 27, 2010 – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Fusion Telecommunications has renewed its lease for 9,744 square feet at 75 Broad Street for a five year term. Fusion delivers a full range of world-class communications solutions combining traditional communications technologies with the advantages of Voice over Internet Protocol (VoIP).
Fusion has been a tenant at 75 Broad Street for eleven years and was represented by Harry Krausman, Managing Director and principal of Cassidy Turley in this transaction. Mr Krausman says that Fusion, as well as many other telecom firms, are drawn to the building because of the tremendous infrastructure the building provides. He added that "by renewing its lease, Fusion was able to take advantage of current market conditions and also avoided the huge capital costs had it relocated to another property".
Joseph and Morris Jerome of JEMB Realty negotiated on behalf of the building ownership.
Matthew Rosen, Fusion’s Chief Executive Officer, said, "While advancements in technology have reduced our space requirements, it is important to us to maintain service continuity and still have room enough to grow in the coming years. Thanks to the landlord’s flexibility and Cassidy Turley’s assistance in the transaction, Fusion has been able to reduce costs, driving efficiencies that will significantly improve the Company’s bottom line, without sacrificing our quality of service or ability to expand."About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985. In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets. Please visit www.cassidyturley.com for more information about the company.