ExecOnline Takes 10K SF at 31 Penn Plaza
By Chava Gourarie April 19, 2019 2:24 pmreprints
ExecOnline signed a seven-year lease for 10,204 square feet at Vanbarton Group’s 31 Penn Plaza, Commercial Observer has learned.
The education technology company will occupy the 17th floor of the 18-story office building at 132 West 31st Street between Avenue of the Americas and Seventh Avenue, according to information from JLL.
The firm is relocating from 860 Broadway at the corner of East 17th Street north of Union Square.
The landlord was represented by a JLL team consisting of Mitchell Konsker, Matthew Astrachan, Adam Haber and Kyle Young, while Gabe Marans and Justin Greenstone of Savills handled the tenant’s side of the deal.
This marks the fifth lease at the building in the last six months—all brokered by the JLL team—for a total of 128,000 square feet, leaving availabilities on only two floors. The other new tenant deals were signed by flex-office company Spaces, which took 83,340 square feet, as CO reported, Capsule Corp., Revtrax and The Credit Junction, which expanded its existing space at the building.
The building recently underwent a multimillion-dollar renovation, during which the Vanbarton Group restored the facade restoration, added a conference center and a rooftop terrace, and upgraded the common areas.
A spokesman for JLL declined did not provide sking rents in the building, but per CO’s previous reporting, they were $68 per square foot as of January.
A spokeswoman for Savills did not immediately respond to a request for comment.