SGS Opens New York Office
Jim Hanas Aug. 13, 2012, 7:15 a.m.
SGS SA is taking 10,500 square feet at 252 West 37th Street.
Formerly known as Société Générale de Surveillance, SGS SA is a multinational company that inspects, verifies, tests, and certifies services and traded goods. The company is divided into ten divisions based on industries, such as Consumer Testing Services, Government and Institutions, Automative, and Oil, Gas, and Chemicals.
SGA operates out of over 1,350 offices and laboratories and employs over 70,000 workers. Its United States headquarters is based in New Jersey and this new lease will mark its first New York office.
Jonathan Stravitz of Bioc Commercial Real Estate represented SGS in the transaction. Catherine O’Toole and Jonathan Mines of Tarter Stats O’Toole were on the opposite side of the table representing the landlord, the Eretz Group.
O’Toole and the Eretz Group have increased their business relations in recent years. In 2010, Catherine O’Toole was assigned to leasing Eretz’s 252 West 37th Street and 39 West 38th Street. Just last year, Tarter Stats O’Toole signed to be the leasing agent for 485 Seventh Avenue.
Eretz is known to shift around its leasing agents. After purchasing the 32,500 square foot building at 155 Fifth Avenue for $38 million from Philips International Holding Corp., the group has changed brokers four times. The Flatiron district building features an elegant 9,000 square foot space that has long been vacant because Eretz is set on signing a $1,800,000 a year lease for the space.