Engineering Consultant Relocating Offices to 111 West 33rd Street
New Jersey-based engineering consultant Naik Consulting Group inked a deal to relocate its Manhattan offices a few blocks south from the Garment District to 111 West 33rd Street in Chelsea, Commercial Observer has learned.
Naik signed a 10-year sublease with Xerox for 15,751 square feet on the entire sixth floor of the 26-story building between Avenue of the Americas and Seventh Avenue, which has an alternative address of 112 West 34th Street, a source with knowledge of the deal said.
Asking rent in the sublease was $48 per square foot, but asking rents in the building for direct deals are $74 per square foot.
The firm, founded in 1997, has its headquarters in Edison, N.J., and also has offices in Philadelphia, according to its website. The firm is relocating from 253 West 35th Street.
Wayne Siegel, Eric Siegel and Daniel Lolai of LSL Advisors represented Naik in the deal while JLL’s Matthew Astrachan and Kristen Morgan handled it for Xerox. Lolai declined to comment and a spokesman for JLL did not immediately respond to a request for comment.
Other tenants in Empire State Realty Trust’s 783,390-square-foot building include Nespresso, web-based enterprise communications provider Diligent Corp. and ESRT’s corporate headquarters.