The Real Deal New York

Vornado adds marketing firm at Two Penn Plaza

UBM combines three offices into one 26,000-square-foot space

August 18, 2014 11:30AM

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From left: 2 Penn Plaza, UBM CEO Tim Cobbold and Richard Bernstein

Vornado Realty Trust signed marketing and communications firm UBM to a 26,444-square-foot space at Two Penn Plaza in Midtown.

UBM, which acquired Canon Communications in 2010 for $287,000, inked a 10-year lease that consolidates three of its offices into one space. The company currently occupies an office in Manhasset on Long Island and two additional locations in the city.

Jared Silverman and Craig Panzirer of Vornado represented the landlord in-house, while Cassidy Turley’s Richard Bernstein and Adam Ardise represented the tenant.

“A lot of buildings don’t have the infrastructure to support the type of density they operate under,” Ardise told the Wall Street Journal.

The Dolan family’s Madison Square Garden Company renewed 257,541 square feet on six separate floors at the 1.5-million-square-foot 2 Penn Plaza in July, as The Real Deal reported. [WSJ, 3rd]Mark Maurer

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