There’s nothing like $50 million in capital upgrades — and a hip new name — to put new life into a tired old office building.
NoMad Tower has landed its second major new tenant since it shed its old 1250 Broadway identity: translation services and tech firm TransPerfect. The company just signed a 15-year lease for 123,500 square feet and will move from 3 Park Ave.
It follows Zillow Group, which signed for 130,000 square feet in December.
Eyal Ofer’s Global Holdings Management Group bought the 800,000-square-foot tower for $565 million in 2016. It took advantage of a move-out by Visiting Nurse Service to redesign and reposition the property.
The lobby on West 32nd Street has been moved to West 31st Street, oriented toward the NoMad neighborhood full of new hotels and restaurants. The building boasts a redesigned facade on lower floors and tenant amenities including a 100-seat amphitheater.
TransPerfect will be on five floors and have a private ground-floor lobby and entrance. Company CEO Phil Shawe noted that of 5,000 employees worldwide, “over 800 are located in New York City.” He said the new location provides the space it needs right now and “the opportunity for future growth.”
The building ownership was repped by JLL’s Paul Glickman, Mitchell Konsker, Benjamin Bass, Diana L. Biasotti and Harley Dalton, the same team that handled the Zillow Group lease. TransPerfect was represented by CBRE’s John Isaacs, Christopher Mansfield and Peter Gamber along with Real Broker LLC’s Rob Kulik.
Sources said the ask was $80 per square foot.
Original Story:
https://nypost.com/2019/02/18/nomad-tower-signs-transperfect-as-next-major-tenant/