ISO Office Building |
Case
Study: ISO Relocation
In 1999, the ISO corporation, an insurance information
provider, sought to consolidate its New York City
offices into one location. They required large floorplates
in a new building at a maximum of $35 per square
foot, but no sites in Manhattan met their needs
and no other borough had inexpensive, ready-to-go
sites.
As a result, the company leased a 780,000 square-foot
building in Jersey City where a site was immediately
available. The cost to New York City was a loss
of 820 jobs, representing $6 million in lost annual
tax revenues. |
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