Foursquare inks 10-year deal at 568 Broadway

New York /
Dec.December 06, 2011 08:39 AM

New York City-based tech company Foursquare has officially inked a deal to sublease 56,000 square feet from Scholastic at 568 Broadway for 10 years, since it has wildly outgrown its current headquarters at 36 Cooper Square, the Wall Street Journal reported.

“We tried using the kitchen. We tried using the eating room [as office space]. We have staff everywhere right now,” said Derek Stewart, finance and operations manager for Foursquare, who found the Broadway space with the help of Sean Black, a vice president at Jones Lang LaSalle.

As previously reported, Foursquare beat out another tech giant, Turmblr, for the space on the corner of Prince Street, which already boasts ZocDoc as a tenant. The lease, originally reported by the Observer, had originally been thought to be a temporary two-year agreement. It was not immediately clear why Foursquare has chosen to opt for a longer term.

As for why the company chose Soho for their new headquarters, Stewart said: “We definitely thought about expanding to Midtown or the West Side Highway. This is where we thought our employees would be the happiest.” [WSJ]


Related Articles

arrow_forward_ios
Savills' Jeffrey Peck (iStock, Savills)
Office market’s next crisis: a surge of lease expirations
Office market’s next crisis: a surge of lease expirations
Colliers’ Peter Nicoletti (Colliers, iStock)
Peter Nicoletti sues JLL, alleging retaliation and discrimination
Peter Nicoletti sues JLL, alleging retaliation and discrimination
Future City Newsletter
Future City: JLL’s latest proptech play; Entrata chairman ousted
Future City: JLL’s latest proptech play; Entrata chairman ousted
From left: Sharad Rastogi, president, JLL Technologies and Zachary Denning, chief executive officer (JLL Technologies, Hank, iStock)
JLL buys cloud-based building management platform Hank
JLL buys cloud-based building management platform Hank
Out of many, one: Inside proptech’s record year of M&A
Out of many, one: Inside proptech’s record year of M&A
Out of many, one: Inside proptech’s record year of M&A
707 Eleventh Avenue and SL Green's Marc Holliday (SL Green, Getty)
SL Green unloads 707 11th Ave less than two years after buying it
SL Green unloads 707 11th Ave less than two years after buying it
Building Engines CEO Tim Curran and JLL CEO Christian Ulbrich (Building Engines, Getty)
JLL buys Building Engines for $300M
JLL buys Building Engines for $300M
Flight to quality in office real estate leaves trophy buildings the only winners
Flight to quality in office real estate leaves trophy buildings the only winners
Flight to quality in office real estate leaves trophy buildings the only winners
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...