Regus has inked a 32,000-square-foot deal at Edward Minskoff’s 101 Sixth Avenue, the latest in a series of New York City space expansions for the global office-suite provider, Crain’s reported.
Regus signed a 10-year deal at the 23-story building, located between Watts and Grand streets. Asking rents are in the $70s per square foot. Jones Lang LaSalle handled both sides of the deal, with JLL brokers Mitch Konsker and Matt Astrachan representing Minskoff.
Over the last two years, Regus has added 200,000 square feet to its Manhattan portfolio, which is now just over 1 million square feet in 40 locations in the borough. Earlier this year, it took space at 3 Brookfield Place, and signed a 34,000-square-foot lease last month at One Rockefeller Plaza.
The company targets startup companies, small businesses and individuals who need space, but larger corporations have also shown interest of late, Donna Scott, who oversees Regus’ New York portfolio, told Crain’s.
“We definitely see a lot of entrepreneurs branching out and wanting to get into a communal environment,” Scott said. [Crain’s] –Hiten Samtani