Morton St. Delivers For Velocity Express

Tuesday, July 03, 2007

A delivery company that employs 5,500 drivers nationwide and manages nearly 30 messenger facilities at Manhattan office towers has relocated its New York City operations.

Westport, Conn.-based Velocity Express Corp. has signed a 10-year lease for 12,500 square feet, or the entire third floor, at 96 Morton St. The building, at the corner of Washington Street, has an asking rent of $31 a square foot.

The new offices will house 60 of Velocity Express' 1,000 employees in the city. The company, which had $312 million in revenues in the nine months that ended in March, is relocating from 10,000 square feet at 185 Varick St. It needed larger offices because it is consolidating its staff with employees from Consolidated Delivery & Logistics, which it acquired last summer. Velocity Express also has six messenger dispatching offices around the city and a 10,000-square-foot trucking facility at 527 W. 34 St.

"We liked 96 Morton because it was a blank slate, and we could design it exactly how we wanted," says Michele Cavaliere, who oversees sales and operations for Velocity Express in New York City. The company spent $1 million to build out the offices. Mitchell Konsker and Robert Galluci, brokers at Cushman & Wakefield Inc., represented Velocity Express in the transaction. Robert Silver and Neil Rubin, brokers at Newmark Knight Frank, represented the landlord.

Other tenants at 96 Morton St. include engineering and architecture firm Ammann & Whitney, television company Lucky Duck Productions and nonprofit Adult Literacy Media Alliance.

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1 Morningside Drive North
Building B Suite 300
Westport, CT

Phone: 888-839-7669

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