French IT Company Inks Lease At Vornado’s Penn 2

Capgemini is buying a ticket to the Penn District.

The Paris-based consulting and IT services firm signed a 43,000-square-foot lease at Vornado Realty Trust’s Penn 2, The Real Deal has learned. Capgemini inked a 10-year deal for part of the 22nd floor of the newly redeveloped office tower above Penn Station. The asking rent was $120 per square foot.

The company will relocate its New York City offices from 79 Fifth Avenue in the Flatiron District, where the company leased the same amount of space in 2017. JLL’s Chad Baker, Bill Peters and Scott Cahaly represented Capgemini in the deal. Vornado was represented in-house by Josh Glick, Jared Silverman and Anthony Cugini, along with a Cushman & Wakefield team led by Bruce Mosler and Josh Kuriloff.

Capgemini joins a growing roster of tenants at the 31-story, 1.8 million-square-foot tower at 2 Penn Plaza. The building recently underwent a $750 million renovation aimed at attracting blue-chip tenants. The redevelopment is part of Vornado’s big bet on the Penn District, where the company has sunk $1.2 billion into revamping Penn 1 and Penn 2, along with ambitious plans to makeover the neighborhood’s retail.

The bet seems to be paying off. In November, Dick’s Sporting Goods inked a 125,000-square-foot lease and Fintech company Robinhood inked a 125,000-square-foot sublease at Penn 2, Fintech firm Current signed a lease for a little over 62,000 square feet and communications and consulting firm FGS Glocal signed an 80,000-square-foot lease.

Verizon inked a 200,000-square-foot lease last summer with plans to move its headquarters to the building. Other tenants at the tower include Madison Square Garden’s corporate offices, Major League Soccer and Universal Music Group.

Vornado declined to comment on the deal and Capgemini did not immediately respond to a request for comment.