NEW YORK CITY, NY – June 12, 2012 – (RealEstateRama) — VeriFone Systems, Inc. (VeriFone) (NYSE: PAY), the electronic payments giant, has leased the entire 32nd floor at W&H Properties’ 1400 Broadway, announces Anthony Malkin, president of Malkin Holdings, which supervises the W&H portfolio.
VeriFone, currently located at 317 Madison Avenue, will move into its new space of 14,307 square feet this summer.
Following hard on the heels of another full-floor lease by Hatch Mott MacDonald, a distinguished engineering consulting firm, the VeriFone transaction is yet another milestone in the building’s transformation from a showroom property into a corporate office environment.
“1400 Broadway is continuing the trend established by 1333, 1350 and 1359 Broadway, which altogether underwent hundreds of millions of dollars in upgrade programs to reposition them and equip them with Class-A facilities and amenities,” says Mr. Malkin. “The brokerage community now recognizes that these three properties, as well as 1400 Broadway, are a perfect fit for quality office tenants seeking location, high standards, and value. The Mid-Broadway Office Corridor is a fast developing hub offering exceptional transportation convenience and embedded within a nascent 24/7 atmosphere.”
Other tenants at 1400 Broadway include the corporate offices of Kohl’s, Burlington, and Men’s Wearhouse, who were some of the first strictly corporate tenants to move into the property. Together, VeriFone, Hatch Mott MacDonald, and these other full-floor leases total more than 176,541 square feet out of the 913,618-square-foot building. A large block of 180,000 square feet over five floors is now being assembled for lease.
Founded in 1981, VeriFone has approximately 5,000 employees and is headquartered in San Jose, California, with sales and marketing offices in 29 countries and R&D and manufacturing facilities in 18 countries. The firm provides merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets.
Bill Peters and Sean Black of Jones Lang LaSalle represented VeriFone in the lease negotiations. Scott Klau, Erik Harris, Neil Rubin, Robert Silver and Anthony Sciacca of Newmark Grubb Knight Frank represented the landlord.
Part of the W&H Properties’ Pre-War Trophy office portfolio, 1400 Broadway 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.
1400 Broadway’s $81-million upgrade program, recently completed, includes a new lobby designed by lobby specialist architects Fifield Piaker Elman, with new entrance doors and canopy, a new ceiling, new lighting, and two new concierge desks with 24/7 security. Other renovations include new elevators, renovated air-conditioned public corridors and restrooms, new windows, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Available space ranges from tower floors of 15,000-20,000 square feet, with large usable terraces and outstanding views, and a contiguous block of 180,000 square feet in the base of the building with the potential for a private entrance and dedicated elevators.
Broker commissions are paid in full at lease signing.
For more information about W&H Properties, please visit www.whpropertiesny.com or www.malkinproperties.com.
