NEW YORK CITY, NY – October 28, 2011 – (RealEstateRama) — e-Dialog, a unit of eBay, Inc. (Nasdaq: EBAY), will more than double its occupancy at W&H Properties’ 1350 Broadway by taking an entire floor of nearly 25,000 square feet, announces Anthony E. Malkin, president of Malkin Holdings LLC, which supervises W&H Properties.
e-Dialog, which provides integrated digital marketing solutions, became part of eBay when the internet giant acquired GSI Commerce earlier this year. The online marketer has been a tenant at 1350 Broadway since 2009, and currently occupies approximately 7,300 square feet. It will take possession of its additional space in the first quarter of 2012.
“I am very pleased with this renewal and expansion,” says Mr. Malkin. “The transaction reflects the growing presence of digital commerce and media firms in our portfolio of former garment buildings from 35th to 38th Streets along Broadway and Seventh Avenue. Converted into Pre-War Trophy Boutique Buildings, our portfolio’s convenience and neighborhood improvements have attracted many new companies, each with better credit and uses than the last.
“I am also happy that this deal shows our commitment to lease only to tenants who have a very high prospect of renewing and/or expanding. Tenant selection based on the potential for continued occupancy and tenant growth is a high priority within our properties. We do not only accommodate this growth; we also anticipate and prepare for it.”
Founded in 1997 and headquartered in Burlington, Massachusetts, e-Dialog services some of the world’s most recognized brands, including AirTran Airways, Avis Budget Group, Boots, British Airways, CVS/pharmacy, Nintendo, the NFL, PETCO, and The TJX Companies. Additional offices are in London, Seattle and Singapore.
Dan Katcher and Eric Cagner of Newmark Knight Frank represented e-Dialog in the lease negotiations. Robert Silver and Jonathan Fanuzzi of Newmark Knight Frank represented the landlord.
Situated on the north side of Herald Square in the Penn Plaza district, across from Macy’s flagship location, 1350 Broadway contains 25 stories and more than 400,000 square feet of modern office space. It offers unsurpassed access to transportation, and is just steps from the Long Island Rail Road, Metro North, New Jersey Transit and Amtrak at Penn Station, Port Authority, PATH, 15 subway lines and all major bus lines.
The building recently completed a $53 million upgrade program that includes a new lobby, renovated elevators, a new roof and façade, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of the W&H Properties Pre-War Trophy office portfolio, the building is supervised by Malkin Holdings LLC, one of New York City’s most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.
Available space at 1350 Broadway ranges from the entire 23rd floor, totaling 11,075 square feet, to the W&H portfolio standard, high-end pre-built units from 3,100 to 6,600 square feet.
Broker commissions are paid in full upon lease signings.
From: W&H PROPERTIES
Contact: Rachel Antman, David Grant, LVM Group, Inc.
(212) 499-6570; (212) 499-6565
Rachel (at) lvmgroup (dot) com; David (at) lvmgroup (dot) com
