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NEW YORK CITY - Equifax (NYSE: EFX) has leased a pre-built suite on the 15th floor of 1359 Broadway, announces Brian Waterman, executive vice president and principal of Newmark Knight Frank, the building's managing and leasing agent.
The firm will relocate from 475 Park Avenue South this month.
"This transaction reflects two notable trends," says Mr. Waterman. "Not only are pre-built units still extremely popular, in most instances leasing before construction is completed, but also many major corporations are seeing the benefits of pre-builts. At 1359 Broadway, these units are often leased to quality, credit-worthy tenants before they're constructed."
Equifax, based in Atlanta, is a global leader in information solutions, including consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology and marketing tools. The firm employs approximately 7,000 people in 15 countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor's (S&P) 500® Index.
Keith Funston and Barry Lewis of Grubb & Ellis represented Equifax in the lease negotiations. Mr. Waterman represented the landlord, together with Michael Frantz of Newmark Knight Frank.
Located in the heart of the Penn Plaza District at 36th Street, and with a growing reputation as the crown jewel of the area, 1359 Broadway enjoys convenient access to the Long Island Rail Road, New Jersey Transit, Amtrak, the Port Authority Bus Terminal, PATH and fifteen subway lines.
The property recently completed $54 million in upgrades, including a noteworthy ceiling restoration; a new lobby; new windows; new restrooms; a new HVAC system; upgraded electrical systems; newer, faster elevator operating systems; new elevator cabs; and refurbished public corridors. The high-end pre-built program, one component of the upgrades, provides tenants with new, clean spaces in move-in condition. These spaces, which are ready for immediate occupancy, feature new ceilings, lighting, and flooring in highly efficient layouts.
Available space at 1359 ranges from pre-built units of approximately 2,500 square feet to a full floor of 24,213 square feet.
Part of the W&H Properties portfolio, 1359 Broadway is owned by Marlboro Building Associates LLC, a partnership led by Peter L. Malkin.
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