Leases  ·  Office

IT Firm Expands Garment District Offices by 8K SF


Thrive Networks, an IT service provider, has inked a deal to nearly double its New York City offices at 242 West 36th Street, Commercial Observer has learned.

The Foxborough, Mass.-based company concurrently signed a seven-year lease to renew its existing space in the Kaufman Organization building between Seventh and Eighth Avenues plus take another 7,700 square feet, a spokesman for the landlord said. Asking rent was $46 per square foot.

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Thrive, which first moved into 6,300-square-foot offices on the third floor in 2014, will now have 14,000 square feet in the building, amassing the entire third floor. The firm plans to move into its new space in the summer, the spokesman for the landlord said.

Kaufman’s Grant Greenspan handled the deal for the landlord while colleague Michael Heaner brokered it for Thrive.

Heaner said in a statement that the lease continues Kaufman’s “trend of bringing cutting-edge tech firms to office spaces in the Garment District, an area which has long been a fashion and textiles hub.” Other tech tenants in 242 West 36th Street include consulting company Precision IT, IBM and Sotis Business Equipment.

Thrive was founded in 2000 and provides cybersecurity, disaster recovery and other IT needs to clients like the Boston Celtics and Au Bon Pain, the spokesman said.