Summit Business Media has signed a lease to take a 17,000-square-foot space at 469 Seventh Avenue, according to a release from Colliers International, which arranged the deal.
By July, the business-to-business media company will leave behind the sixth floor 475 Park Avenue South for an eight-year lease on the 10th floor of the 267,000-square-foot Midtown West building, between West 35th and West 36th streets. Nearly half of the 16 floors are still available, the release said.
Colliers International is in talks with several tenants for the remaining space. A “building-within-a-building” option allows the tenant to lease multiple adjoining floors to secure a private entrance or elevator, the firm said.
Alan Wildes of Cushman & Wakefield represented Summit in the deal. The asking rent per square foot was not disclosed.
Earlier this month, a five-year legal fight involving Colliers’ top executives settled for $4 million. – Mark Maurer