Twitter Extends Lease on 215K-SF Chelsea HQ
By Rebecca Baird-Remba November 6, 2018 4:38 pm
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Twitter is extending the lease on its New York City headquarters for another five years at Columbia Property Trust’s 249 West 17th Street in Chelsea, Commercial Observer has learned.
The social media company has occupied all 215,000 square feet at the two-building property between Seventh and Eighth Avenues since Columbia renovated the property in 2014. Now it is extending its original 11-year lease, which was set to expire in 2025, through 2030, according to information from the landlord.
“We are very pleased to extend our relationship with Twitter at 249 West 17th Street,” said Nelson Mills, the CEO of Columbia. “We’re delighted that this fully renovated and highly amenitized property, located in Manhattan’s premier neighborhood for leading tech and media companies, will serve as their New York home for years to come.”
Christina Clark and Peter Sabesan from Cresa represented Twitter in the deal, and CBRE (CBRE)’s Neil King and Paul Amrich handled the transaction for Columbia Property Trust. A spokeswoman for CRESA didn’t immediately respond to a request for comment.
“Twitter’s extended lease commitment with Columbia Property Trust at 249 West 17th Street is a testament to the quality of the property and the services ownership has been able to provide,” Amrich said in a statement.
Twitter has been subleasing parts of its space to other well-known tenants, including Lyft, Netflix and Major League Baseball, CO previously reported.
Columbia purchased the pair of six- and 12-story buildings at 245-249 West 17th Street, along with a third a block up at 218 West 18th Street, for $514 million from New York REIT last year, as CO noted at the time.
