Home Care Software Developer Ditching Long Island City for Bryant Park
A developer of home care software, HHAeXchange, will move its offices from Long Island City, Queens to the historic Bush Tower near Bryant Park, Commercial Observer has learned.
The company signed a seven-year lease for 10,000 square feet on the second floor of the 29-story tower at 130 West 42nd Street between Avenue of the Americas and Broadway, a source with knowledge of the deal said. Asking rent was in the $60s per square foot.
HHAeXchange was founded in 2008 and currently has its offices at Savanna’s One Court Square between 45th Avenue and 44th Drive. It plans to move into its new digs in the beginning of next year, the source said.
JLL (JLL)’s Allison Buck and Kirill Azovtsev represented the tenant in the deal while Frank Doley, Clark Finney and Harlan Webster, also of JLL, handled it for landlords Tribeca Associates and Vanke. A spokesman for JLL declined to comment.
Bush Tower was built in 1916 as the headquarters for the Bush Terminal Company and Tribeca Associates bought the ground lease of the property in 2013 for $65 million with Meadow Partners, as CO previously reported.
In 2015, Vanke acquired a controlling leasehold interest in the building for $125 million in a deal that saw Tribeca Associates keep a stake in the ground lease and continue to operate the building while Meadow Partners was bought out entirely, The Real Deal reported.
Other tenants in the 250,000-square-foot property include WeWork (WE), public relations firm Coburn Communications and financial media company PEI Media.