NEW YORK CITY, NY – November 30, 2011 – (RealEstateRama) — Xerox Corporation (NYSE: XRX) has leased space on the fifth floor of W&H Properties’ 250 West 57th Street, announces Anthony Malkin, president of Malkin Holdings LLC, which supervises W&H Properties.
The space will house employees relocating from 245 Park Avenue. Occupancy will begin next month.
“Xerox is known worldwide as a business technology leader for today’s business needs,” notes Mr. Malkin.
“Its decision to lease space at 250 West 57th Street results from our efforts to reposition the property into a prime office building and our recently-completed upgrade program, along with the building’s exceptional convenience to mass transportation and its proximity to Central Park.”
Founded in 1906 and headquartered in Norwalk, Conn., Xerox employs 134,000 people serving clients worldwide. The company reported revenue of $22 billion in 2010.
Xerox provides leading-edge document technology, services, software and genuine Xerox supplies for graphic communication and office printing environments of any size. Through ACS, A Xerox Company, which Xerox acquired in February 2010, Xerox also offers extensive business process outsourcing and IT outsourcing services, including data processing, HR benefits management, finance support, and customer relationship management services for commercial and government organizations worldwide. Bill Pickrell, Douglas Neye and Amanda J. Deaton of Jones Lang LaSalle represented Xerox in the lease negotiations. Mitchell Arkin, Haley Klein, Harry Blair and Sean Kearns of Cushman & Wakefield represented the landlord.
Located along the convenient 57th Street corridor, and just steps from the Time Warner Center, Carnegie Hall, Lincoln Center, and Central Park, 250 West 57th Street comprises 26 stories and 535,000 square feet of modern office space. It offers direct in-building access to the Time Warner Center/Columbus Circle subway station, serving the A, C, B, D and 1 subway lines, and immediate access to all major bus lines.
The property’s recently completed $82 million upgrade program includes a renovated lobby, renovated elevator cabs, new windows, 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, 250 West 57th Street 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 includes W&H portfolio high-end pre-built suites from 2,500 to 7,000 square feet and build-to-suit spaces up to 10,600 square feet.
Broker commissions are paid in full at lease signing.
