NEW YORK CITY, NY – December 8, 2011 – (RealEstateRama) — Regus, the world’s largest provider of flexible workplaces, has leased two full floors totaling 52,274 square feet at W&H Properties’ 112 West 34th Street, announces Anthony Malkin, president of Malkin Holdings LLC, which supervises the W&H Properties portfolio.
Regus, which is relocating from 11 Penn Plaza, will occupy its new space on the 17th and 18th floors by the second quarter of 2012.
“This lease reflects the remarkable success of our conversion of 112 West 34th Street to a corporate, Penn Plaza address,” says Mr. Malkin. “Over time we consolidated partial, full-floor and multi-floor blocks to accommodate tenants like Regus, which have large space requirements. I am thrilled that CBRE brought Regus to 112, and that the deal is done.”
Over 900,000 customers a day use Regus facilities in 1,200 locations in 550 cities and 91 countries. Founded in Brussels, Belgium in 1989, Regus is headquartered in Luxembourg and listed on the London Stock Exchange.
Mark Ravesloot and William Iacovelli of CBRE represented Regus in the lease negotiations. Mitchell Arkin, Kelli Mekles and Haley Klein of Cushman & Wakefield represented the landlord.
Located across from the Macy’s flagship location, 112 West 34th Street contains 26 stories, and more than 750,000 square feet of modern office space. 112 West 34th street is steps from Penn Station, Grand Central Terminal, Long Island Rail Road, New Jersey Transit, the Port Authority Terminal, PATH, 15 subway lines and all major bus lines.
112 West 34th Street recently completed a top-to-bottom $80 million upgrade program that includes a sleek, new modern and energy-efficient glass curtain wall; a renovated stone and marble lobby, which features a 30-foot undulating ceiling, state-of-the-art security desk with concierge services, and new entryways at both 34th and 33rd Streets; renovated restrooms and air-conditioned public corridors; upgraded building-wide systems, including state-of-the-art life safety, electrical, security, plumbing, and HVAC with a direct digital control Building Management System (BMS); and several other energy efficiency upgrades.
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.
Availabilities at the property include a W&H portfolio-standard high-end pre-built unit containing 5,704 square feet, and build-to-suit partial and full floors from 20,000 to 41,000 square feet. Also available are multi-floor blocks of 74,660 square feet and 52,000-square feet.
Broker commissions are paid in full at lease signing.
About 112 West34th Street
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.
From: W&H PROPERTIES
Contact: Rachel Antman or David M. Grant, LVM Group, Inc.
(212) 499-6570; (212) 499-6565
rachel (at) lvmgroup (dot) com; david (at) lvmgroup (dot) com
Regus Leases More Than 50,000 Square Feet
At W&H’s 112 West 34th Street
http://www.112west34thstreet.com
