A transportation technology firm that manages tolls, traffic violations and vehicle registrations is subleasing office space in Lower Manhattan, Commercial Observer has learned.<\/p>\n
Verra Mobility<\/a> signed a 10-year, 57,149-square-foot sublease at 55 Water Street, owned by the Retirement Systems of Alabama<\/a>. The office will serve as the company\u2019s Northeast headquarters once Verra moves out of a temporary location on Broad Street, according to sources.<\/p>\n SEE ALSO: STK Bringing New Steakhouse to Meatpacking District<\/a><\/p>\n Asking rent for the subleased space on the second floor of the building was not disclosed, but average Lower Manhattan asking rent in the third quarter of 2025 was $57.95 per square foot, according to a report from CBRE<\/a>.<\/p>\n Verra is subleasing the space from the Health Insurance Plan of Greater New York<\/a>.<\/p>\n Newmark<\/a>\u2018s Ira Rovitz, Chris Ventura and Rohan Kapoor handled negotiations for Verra while CBRE<\/a>\u2019s Paul Haskin represented the sublandlord.<\/p>\n Newmark declined to comment while CBRE did not immediately provide a comment.<\/p>\n Other tenants in the 53-story building include engineering consultancy Jaros, Baum & Bolles, which signed for 67,963 square feet in June<\/a>, and telecommunications service provider MetTel, which expanded to 69,000 square feet in April<\/a>.<\/p>\n