Case Study: Annaly Capital Management achieves below‑market rents, landlord‑funded build‑out and uninterrupted operations with Cresa

Annaly Capital Management - Customer Case Study

Annaly Capital Management, Inc., a leading diversified capital manager, needed space and infrastructure to support additional staff and a workforce that commutes from across the NYC region. Annaly engaged Cresa for Workplace Strategy, Project Management, Financial and Market Analytics and transaction services to evaluate location options and determine the most operationally and economically viable solution.

Cresa modeled alternatives and negotiated a New Building Installation (NBI) on a vacant floor in the same building, securing major infrastructure improvements and landlord contributions with no disruption to daily operations. Cresa achieved below‑market rents and above‑market concessions, delivering almost $13.00/sf in additional savings on top of the landlord’s $80.00/sf work letter, obtained direct access to the building’s back‑up generator, and realized space efficiencies across the 42,436 RSF space.

Annaly Capital Management

Dennis E. Malloy

Director, Human Resources and Administration