The Real Deal New York

Medidata finalizes massive Hudson Square lease

October 25, 2012 01:30PM

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350 Hudson Street

As Trinity Real Estate seeks to transform Hudson Square into a round-the-clock hotspot, the landlord has finalized a lease in the neighborhood with Medidata Solutions, a company that provides cloud-based medical data, the company said today.

Medidata is taking almost 100,000 square feet of space at Trinity’s 350 Hudson Street, according to the statement. The technology firm will take three full floors, as anticipated in previous reports, at the Hudson Square area building.

Asking rents at 350 Hudson, also home to advertising giant HAVAS, are in the $50′s per square foot, the statement said. Marc Packman and Charles Laginestra represented the landlord in-house, according to the statement, while Medidata was represented by Lisa Kiell of Jones Lang LaSalle.

“Hudson Square has become a hub for creative and high-tech businesses which are vital to this city’s future,” Jason Pizer, president of Trinity, said in the statement.

The Hudson Square neighborhood has emerged as an epicenter for the technology and creative industries, with the submarket posting the biggest rent spike of any region in the extremely tight Midtown South market last year at this time.

Trinity, which owns multiple office and retail properties in the area, has submitted a proposal to the city to rezone Hudson Square, allowing for ground-up residential development and taller buildings along the avenues.  –Guelda Voien

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