Drug Research Company Signs Lease at 1 Grand Central Place


One Grand Central Place.
One Grand Central Place.

Quintiles, a Fortune 500 biopharmaceutical development company, has signed a lease at 1 Grand Central Place, a 55-story building at 60 East 42nd Street, according to Empire State Realty Trust, the building’s landlord.

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The lease includes 6,637 square feet of pre-built space on the 22nd floor of the property. Asking rents were $67 per square foot.

Dylan Mattes of Colliers International represented Quintiles in the transaction. Fred Posniak of ESRT represented the landlord in-house, along with William Cohen, Jonathan Tootell and Julie Christiano of Newmark Grubb Knight Frank.

Both Colliers International and ESRT declined to comment on the transaction.

Quintiles is not the only company to have recently secured space at 1 Grand Central Place. Telenav, the wireless location-based services company, signed a lease for 4,866 square feet in the tower. Ferguson Partners, a recruitment firm, also signed a lease for 3,279 square feet. Other tenants in the building include The Robertson Foundation, The Wexner Foundation, 3i, Hafetz Necheles & Rocco and Allianz.

The property at 1 Grand Central Place was previously known as the Lincoln Building.