Travel Company Not Venturing Out of 5 Penn Plaza
Terence Cullen Feb. 19, 2016, 4:21 p.m.
GTA Americas has renewed its full-floor lease at 5 Penn Plaza, according to a press release from the landlord’s broker.
The travel company will remain on the fifth floor of the 24-story building between West 33rd and West 34th Streets, according to the release from CBRE. GTA Americas has 28,641 square feet at the 684,067-square-foot Midtown South property. Asking rent in the deal was $65 per square foot.
Peter Turchin, Steve Eynon, Jason Pollen and Dave Caperna of CBRE represented the landlord in the deal, while David Goldstein and Gabe Marans of Savills Studley represented the tenant. Messrs. Goldstein and Marans didn’t immediately return a request for comment via a spokeswoman.
CBRE declined via a spokeswoman to provide the length of the renewal. It wasn’t clear when GTA Americas signed on at the building.
“5 Penn is an owner-occupied and an impeccably maintained property,” Mr. Turchin said in prepared remarks. “The stability of ownership, coupled with the capital improvement program, will allow us to continue to retain our long-standing tenants and attract the diverse industries that are increasingly migrating to the Pennsylvania Station and Hudson Yards area.”
That capital improvement program is a multi-million dollar overhaul of the building including a new lobby, a two-story glass façade, new elevator cabs and a snack kiosk, according to the release. Gensler is designing the overhaul.
Other tenants include Sirius XM Radio, which leases about 85,169 square feet on four floors of the building, according to CoStar Group, as well as the Visiting Nurse Service of New York and Thomas Publishing Company.