The Real Deal New York

TradingScreen takes 20K sf at 1 Penn Plaza

Financial tech provider signed 10-year lease for office at Vornado building
December 19, 2016 03:40PM

One Penn Plaza

Financial technology provider TradingScreen signed a 10-year lease for nearly 20,000 square feet at Vornado Realty Trust’s One Penn Plaza.

The deal will see the company taking 19,944 square feet on the 49th floor of the 2.6 million-square-foot building, Commercial Observer reported. Asking rents in the deal were not made available. However, in October, Fuse Media took 27,000 square feet at the building, and asking rents in that 10-year deal were between $67 and $72 per square foot.

TradingScreen currently rents space at SL Green Realty’s TRData LogoTINY 215 Park Avenue South, according to the publication.

David Dusek and Paul Ferraro of JLL represented TradingScreen. Vornado was represented in-house by Craig Panzirer and Jared Silverman.

One Penn Plaza was left with a 150,00-square foot vacancy when the U.S. Customs and Border Protection agency left the building for One World Trade Center, and Vornado has been slowing working to fill the space.

The company is planning a massive overhaul of its Penn Plaza portfolio, and intends to combine One and Two Penn Plaza office buildings into a 4 million-square-foot complex.

“The goal here is to achieve market rents as much as 50 percent higher as market rents,” Vornado CEO Steven Roth said of the plan on a company earnings call in February. [CO]Miriam Hall