Leases ARE the news amid frenzy for space in – Business News
A reader emailed us, “Why does your column run so many lease stories? Isn’t there other news?”
Well, proper now, workplaces leases ARE the news. Manhattan’s space-gobbling frenzy is a factor to behold.
Neither the pandemic’s supposed work-from-home impression, nor the election of a Marxist mayor, nor wars in Europe and the Middle East made a dent in corporations’ confidence in the metropolis.
Three leases for 182,000 have been lately signed for Swig Company’s 1411 Broadway. Google Maps
Aegon Ltd. has chosen 125 W. 57th St. for its new US headquarters. Google Maps
Here are some current, market-moving offers.
Three unreported leases signed within the previous two months totaled 182,000 sq. ft at Swig Company’s repositioned 1411 Broadway at West thirty ninth Street.
Zeta Global is shifting from 3 Park Ave. and doubling its Manhattan footprint with 50,522 sq. ft; attire producer Republic Clothing Corp. transformed a sublease into an 81,000 square-foot direct lease; and South Korean magnificence conglomerate Amorepacific is shifting from 1407 Broadway to 50,522 sq. ft at 1411.
The 1.3 million square-foot tower, lately modernized to the tune of $100 million, noticed more than 566,000 sq. ft of leasing over the previous 18 months, bringing it to 90% occupancy.
CBRE’s Paul Amrich, Neil King, Emily Chabrier and Kelly Tipton group repped Swig alongside Hines, the asset and property supervisor. Asking rents vary between $72 and $110.
Meanwhile, worldwide financial firm Aegon Ltd., which is rebranding itself as Transamerica Inc., selected Alchemy-ABR’s new 125 W. 57th St. for its US headquarters. The lease for 20,600 sq. ft follows a deal with Anchorage Capital Advisors.
Sorry readers, proper now, workplaces leases ARE the news. rmbarricarte – stock.adobe.com
The landlord was repped by JLL’s Mitchell Konsker, Kristen Morgan, Christine Colley, Kate Roush and Dan Turkewitz. Cushman & Wakefield’s Barry Zeller and David Downey acted for Aegon.
The 265,000 square-foot project beforehand lured Eldridge Industries, Jadian Capital and Kingdon Capital Management. The momentum has crammed over 75% of the building in simply two years. In addition, Ten Five Hospitality, creator of Mother Wolf eating places in different cities, leased the retail space for a “new concept.”
