What you Infor? Georgia-based software firm becomes latest "Alley" cat
As the old adage goes, you only have one chance to make a first impression.
For Infor, a business software company whose roster of 70,000 clients – Saab, AB World Foods, Foxwood Casinos, et al – are far more recognizable than they are, moving into New York City’s growing tech market is as good as telling the world you’re ready to play with the big boys.
Infor signed a long-term lease at 641 Avenue of the Americas, an eight-story building owned by Atlas Capital Group, officials announced earlier today.
Originally based in Alpharetta, Georgia, Infor will be occupying a total of 31,500 square feet on both the fourth and part of the third floor, and will have an option for 11,500 square feet of contiguous space on the third floor, said Cushman & Wakefield (CWK), which represented Infor during the deal.
The new office will house executive staff, a client reception center and engineers who specialize in graphic design and social computing.
The building is located in Midtown South, which is fast becoming the hub of the booming tech industry; both Apple and Yelp will be Infor’s new neighbors at its offices in 100-104 Fifth Avenue. The Midtown South area has a 6 percent vacancy rate, reports the Wall Street Journal.
Infor is being welcomed with open arms from the city as both Mayor Mike Bloomberg and Governor Cuomo, are expecting sizable layoffs in the financial sector in the next year, says The Wall Street Journal.
“Tech companies have been gravitating to areas with a critical mass of other such companies so there will be a big labor pool,” Bloomberg said. “New York is proving to be one of these areas, thanks in part to its culture and lifestyle offerings.”
Bruce Mosler and Adam Rappaport, both of Cushman & Wakefield, represented the tenant. Peter Turchin and Gregg Rothkin of CBRE (CBRE) represented the landlord.