Thoughtbot Signs Lease in Midtown South
Danielle Schlanger April 1, 2015, 4:13 p.m.
Consulting firm Thoughtbot, which makes Web and mobile apps for early-stage startups, has signed a lease at 1384 Broadway between West 37th and West 38th Streets in Midtown South.
The company, which was established in Boston in 2003, will occupy 8,622 square feet for its eighth location, as it continues to grow. It plans to move into the space on May 1.
Avison Young’s Justin Dziama represented Thoughtbot in negotiations, along with colleagues Anthony LoPresti and David Cohen.
“Our offices are a place of collaboration and innovation. It’s important that we find the best fit for our teams and clients who co-locate with us,” said Chad Pytel, Thoughtbot’s chief executive officer, in a prepared statement.
Thoughbot also plans to continue its expansion into other markets, including Chicago, Portland and London.
A spokesman for Avison Young declined to comment on the length of the lease and asking rents. However, he did note that, according to a fourth-quarter report issued by the company, average rental rates in the area are $73.30 per square foot.
Newmark Grubb Knight Frank’s Howard Kesseler, Matthew Feigen and Brett Bedevian represented the landlord. Neither Mr. Feigen nor Mr. Bedevian were available for comment.