Enterprise software giant SAP has opted to take an additional 30,714 square feet at Related Companies’ Hudson Yards, the New York Observer reported.
In April, SAP had leased the top four floors – 44 through 47 – at Related’s 1.7 million-square-foot South Tower. Around the same time, French fashion company L’Oreal also took 402,000 square feet at the building.
The new, 16-year deal gives SAP the entire 43rd floor, bringing the company’s total presence at the building to 144,272 square feet, sources told the Observer.
Jones Lang LaSalle’s Alexander Chudnoff and Scott Vinett represented SAP in the expansion, while Related was represented by CBRE’s Robert Alexander, Howard Fiddle, Robert Stillman and Leonard DiMicelli. None of the brokers immediately responded to the Observer’s requests for comment.
The South Tower – for which Related teamed up with Oxford Properties – is slated to be completed in 2016, as The Real Deal reported. Related and Oxford also expect to have the 2.4 million-square-foot North Tower ready for move-in by 2018. [NYO] –Hiten Samtani