San Diego-based tech firm Active Network is consolidating its New York City operations while also doubling its office space at 370 Lexington Avenue, a 27-story office tower owned by Sherwood Equities.
Active Network will be taking the entire 25th floor, sized at a healthy 6,300 square feet, in the office building that caters to a variety of boutique tech, architecture and accounting firms.
Adam Weissleder and Jill Burrowes, both of Sherwood Equities, represented the landlord in-house. Active Network represented itself in the deal, said Mr. Weissleder. Asking rent for the space was $60 a square foot.
Active Network had been in 370 Lexington Avenue since 2005 while also maintaining a separate location at 989 Lexington Avenue. The firm wanted to consolidate its operations while also increase its footprint from the roughly 3,000 square feet it had been leasing for a portion of the 12th floor in the Grand Central area building.
Davis Langdon, a global construction consulting firm, had left its 25th floor office, giving Active Network a chance to place all of its operations on an entire floor.
“They were in the building and they liked it… and it made more sense to be in the Grand Central location,” said Mr. Weissleder.
While the building is not in the tech-mad Midtown South market, it has enough of a boutique feel (and a favorable location to all major transportation lines) to make it a draw to a Midtown South-type tenant. Tech firms S7 Technology and SmartData are also tenants in 370
“A lot of our space do have the exposed ceiling and that loft feel,” said Mr. Weissleder.
Active Networks make online registration software and event management software, among other specialties, according to its website. The firm has offices all over the world, including England, Australia, and Germany.