Technology Law Firm Gunderson Dettmer Relocating to 45K SF in Midtown South
By Lauren Elkies Schram March 28, 2019 1:03 pmreprints
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian is relocating from its home at 220 West 42nd Street to 44,718 square feet across three floors at Global Holdings Management Group’s 1250 Broadway in Midtown South, Commercial Observer has learned.
The international technology law firm on March 25 signed a 15-year lease at the newly named Nomad Tower between East 31st and East 32nd Streets and will occupy the 20th through 22nd floors, per information from JLL. The asking rent was $88 per square foot, a JLL spokesman indicated. A relocation date from its 48,000 square feet at 220 West 42nd Street has yet to be determined.
JLL’s Paul Glickman, Mitchell Konsker, Benjamin Bass, Diana Biasotti and Harley Dalton along with Craig Panzirer in-house at Global Holdings Management Group represented the landlord in the deal. Savills‘ John Mambrino, Nick Farmakis and Pete Cento represented Gunderson Dettmer. A Savills spokeswoman said the brokers declined to comment.
Global Holdings purchased the 39-story, 800,000-square-foot tower for $565 million in 2016. It is now completing a $50-plus million capital improvement campaign and repositioning effort for the property.
Tenants include Transperfect, which took 123,000 square feet in February 2019, as CO reported. And Zillow Group leased 130,000 square feet in late 2018, as CO also reported.