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	<title>The Commercial Observer &#187; Medidata Close to 100K s/f Deal at 350 Hudson</title>
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		<title>The Commercial Observer &#187; Medidata Close to 100K s/f Deal at 350 Hudson</title>
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		<title>Medidata Close to 100K s/f Deal at 350 Hudson</title>

		<comments>http://commercialobserver.com/2012/09/medidata-close-to-100k-sf-deal-at-350-hudson/#comments</comments>
		<pubDate>Wed, 26 Sep 2012 15:29:17 -0400</pubDate>
					<link>http://commercialobserver.com/2012/09/medidata-close-to-100k-sf-deal-at-350-hudson/</link>
			<dc:creator>Daniel Geiger</dc:creator>
				
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		<description><![CDATA[<p><strong>Medidata Solutions</strong>, a software and computing company that provides services for clinical drug trials, is negotiating to take a nearly 100,000 square foot lease at <strong>350 Hudson Street</strong> several sources have revealed to <em>The Commercial Observer</em>.</p>
<p><strong>Lineene Krasnow</strong>, a spokeswoman for Medidata, confirmed the company was searching for space and would soon complete a deal, though she would not specify where it was looking or far along in negotiations the firm had progressed.</p>
<p><!--more--></p>
<p><div id="attachment_240261" class="wp-caption alignleft" style="width: 208px"><a href="http://nyocommercialobserver.files.wordpress.com/2012/09/350-hudson-street.jpg"><img class="size-full wp-image-240261" title="" src="http://nyocommercialobserver.files.wordpress.com/2012/09/350-hudson-street.jpg" alt="" width="198" height="131" /></a><p class="wp-caption-text">350 Hudson Street</p></div></p>
<p>“Medidata will be relocating in 2013 in New York City, but arrangements are not final,” she said in an email.</p>
<p>The company currently has space at <strong>79 Fifth Avenue</strong>.</p>
<p>Sources say the software firm, which offers cloud computing services that help in the management and planning of clinical research and trials, would likely pay rents either in the high $40s to low $50s per square foot for the space at 350 Hudson Street.</p>
<p>The roughly 350,000-square-foot building is one of several office properties in the Hudson Square neighborhood owned by the Downtown church <strong>Trinity</strong>, which has been the benefactor of a surge of leasing activity in Midtown South, the greater area of which Hudson Square is a part. <strong>Havas</strong>, the French advertising company, signed an over 250,000-square-foot deal earlier this year to move into two Trinity properties, <strong>200 and 205 Hudson Street</strong>.</p>
<p>Earlier this year, the publisher <strong>Pearson</strong> also added almost 40,000 square feet to the roughly 270,000 square feet it leased last year at <strong>330 Hudson Street</strong>, a building that is being redeveloped by the investment firm <strong>Beacon Capital Partners</strong> but that Trinity owns the ground lease on.</p>
<p>In May, fashion designer <strong>Tory Burch</strong> <a href="http://commercialobserver.com/2012/05/tory-burch-takes-2-floors-at-350-hudson-street/">leased 80,000 square feet at 350 Hudson Street</a>.</p>
<p>Despite the strong activity in the area, Hudson Square’s vacancy rate has been<a href="http://commercialobserver.com/2012/09/grantland-will-nonagenarian-eugene-grant-sell-550-washington-street/"> held artificially high by 550 Washington Street</a>, a large office building controlled by <strong>Eugene Grant</strong> that has been mostly empty for years.</p>
<p>It appears that Medidata will take space being vacated by Havas at 350 Hudson Street. The company has nearly 200,000 square feet in the building according to the real estate database <strong>CoStar</strong> but is vacating the offices in order to move into the lease it took at 200 and 205 Hudson Street.</p>
<p><strong>Lisa Kiell</strong>, a leasing executive at <strong>Jones Lang LaSalle</strong>, is representing Medidata in its deal. Ms. Kiell did not return calls seeking comment.</p>
]]></description>
		<content:encoded><![CDATA[<p><strong>Medidata Solutions</strong>, a software and computing company that provides services for clinical drug trials, is negotiating to take a nearly 100,000 square foot lease at <strong>350 Hudson Street</strong> several sources have revealed to <em>The Commercial Observer</em>.</p>
<p><strong>Lineene Krasnow</strong>, a spokeswoman for Medidata, confirmed the company was searching for space and would soon complete a deal, though she would not specify where it was looking or far along in negotiations the firm had progressed.</p>
<p><!--more--></p>
<p><div id="attachment_240261" class="wp-caption alignleft" style="width: 208px"><a href="http://nyocommercialobserver.files.wordpress.com/2012/09/350-hudson-street.jpg"><img class="size-full wp-image-240261" title="" src="http://nyocommercialobserver.files.wordpress.com/2012/09/350-hudson-street.jpg" alt="" width="198" height="131" /></a><p class="wp-caption-text">350 Hudson Street</p></div></p>
<p>“Medidata will be relocating in 2013 in New York City, but arrangements are not final,” she said in an email.</p>
<p>The company currently has space at <strong>79 Fifth Avenue</strong>.</p>
<p>Sources say the software firm, which offers cloud computing services that help in the management and planning of clinical research and trials, would likely pay rents either in the high $40s to low $50s per square foot for the space at 350 Hudson Street.</p>
<p>The roughly 350,000-square-foot building is one of several office properties in the Hudson Square neighborhood owned by the Downtown church <strong>Trinity</strong>, which has been the benefactor of a surge of leasing activity in Midtown South, the greater area of which Hudson Square is a part. <strong>Havas</strong>, the French advertising company, signed an over 250,000-square-foot deal earlier this year to move into two Trinity properties, <strong>200 and 205 Hudson Street</strong>.</p>
<p>Earlier this year, the publisher <strong>Pearson</strong> also added almost 40,000 square feet to the roughly 270,000 square feet it leased last year at <strong>330 Hudson Street</strong>, a building that is being redeveloped by the investment firm <strong>Beacon Capital Partners</strong> but that Trinity owns the ground lease on.</p>
<p>In May, fashion designer <strong>Tory Burch</strong> <a href="http://commercialobserver.com/2012/05/tory-burch-takes-2-floors-at-350-hudson-street/">leased 80,000 square feet at 350 Hudson Street</a>.</p>
<p>Despite the strong activity in the area, Hudson Square’s vacancy rate has been<a href="http://commercialobserver.com/2012/09/grantland-will-nonagenarian-eugene-grant-sell-550-washington-street/"> held artificially high by 550 Washington Street</a>, a large office building controlled by <strong>Eugene Grant</strong> that has been mostly empty for years.</p>
<p>It appears that Medidata will take space being vacated by Havas at 350 Hudson Street. The company has nearly 200,000 square feet in the building according to the real estate database <strong>CoStar</strong> but is vacating the offices in order to move into the lease it took at 200 and 205 Hudson Street.</p>
<p><strong>Lisa Kiell</strong>, a leasing executive at <strong>Jones Lang LaSalle</strong>, is representing Medidata in its deal. Ms. Kiell did not return calls seeking comment.</p>
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