Consulting Firm JB&B Inks 68K-SF Deal at 55 Water Street
By Isabelle Durso June 2, 2025 2:42 pm
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Engineering consultancy Jaros, Baum & Bolles (JB&B) is making moves in the Financial District.
JB&B, which specializes in mechanical, electrical and building services engineering, signed a lease for 67,963 square feet at 55 Water Street, a 53-story tower owned by Retirement Systems of Alabama (RSA), according to a May office report from Colliers.
The Colliers report categorized it as a new lease for the firm, which has a New York City office listed on its website not too far away at 80 Pine Street.
The length of the lease and asking rent were unclear, but Colliers’ report found office rents in Lower Manhattan averaged $58.60 per square foot in May.
It’s also unclear who brokered the deal. Spokespeople for RSA, JB&B, Colliers and CBRE — which has represented RSA in past leases at the building — did not immediately respond to requests for comment.
Other tenants of building overlooking the Pier 11-Wall Street commuter ferry terminal include The Legal Aid Society, nonprofit health care system MJHS Health System, the New York City Board of Education Retirement System, human resources service Justworks and telecommunications service provider MetTel, which expanded to roughly 69,000 square feet at the property in April.
News of JB&B’s new deal at the office tower comes after a relatively strong month for office leasing in Manhattan, despite a slight drop in activity month-over-month.
During the month of May, Manhattan saw 3.13 million square feet of office leases signed, a 7.2 percent drop from April but a 5.2 percent increase compared to May 2024, Commercial Observer reported, citing data from Colliers.
In addition, May’s leasing volume was 15.9 percent above the borough’s 10-year monthly average of 2.7 million square feet, according to Colliers.
The largest lease signed during the month was New York University’s 70-year lease for the entire 1.1 million square feet at Vornado Realty Trust’s 770 Broadway, CO reported.
Isabelle Durso can be reached at [email protected].
