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Digital advertising provider to occupy portion of fourth floor at Times Square Plaza, a Class A, 501,429-SF commercial office building; owners to custom-build space for tenant
NEW YORK, February 20, 2013 — Jones Lang LaSalle has completed a new, direct lease for Videology Inc. with Zapco 1500 Investment LP at 1500 Broadway, also known as Times Square Plaza. The digital advertising provider signed a 10-year lease for 16,000 square feet of commercial office space at the Class A, 501,429 -square-foot office building.
The tenant, Videology, was represented by Jim Wenk, executive vice president; and Rhett Miller, associate, with JLL. The building owner, Zapco 1500 Investment, was represented by Paul Amrich, vice chairman; Patrice Meagher, first vice president; and Daniel Bodner, senior associate, all with CBRE Inc.
“Videology was nearing the expiration of its lease and selected JLL to find appropriate space for the growing firm,” said Wenk. “Company executives preferred to remain at Times Square Plaza as the building was an ideal location for its employees, clients and investors. We were able to find the right space for Videology on the fourth floor of 1500 Broadway and worked with the owner to ensure the tenant’s new offices were custom-built for the needs of the firm.”
Videology will occupy a portion of the fourth floor at 1500 Broadway, which is located between West 43rd and West 44th streets. The digital advertising provider is relocating to the space from its previous offices on the 11th floor of the building.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,750 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2011, the New York tri-state team completed approximately 15.9 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at more than $6.8 billion, and oversaw a property and facilities management portfolio of 63.6 million square feet and an agency leasing portfolio of 49.8 million square feet.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications