Elevator Maintenance Firm, CRE Workflow Provider Nab Space at 1450 Broadway
By Nicholas Rizzi May 7, 2021 2:49 pm
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Elevator maintenance firm Champion Elevator Corp. and commercial real estate workflow provider LightBox both inked deals for space at 1450 Broadway, JLL (JLL) announced.
In the larger of the two deals, Champion signed a three-year lease for 5,422 square feet for part of the fifth floor of the 42-story Times Square tower, according to landlord brokers JLL. Asking rent was in the high-$50s per square foot.
The company was previously a subtenant in the building but moved to a direct lease with landlord ZG Capital Partners, according to JLL.
Cushman & Wakefield (CWK)’s Joseph Grotto represented Champion Elevator in the deal, while Mitchell Konsker, Barbara Winter, Simon Landmann and Kip Orban handled it for the landlord. A spokesperson for C&W declined to comment.
LightBox signed a five-year lease for 3,489 square feet on the entire 41st floor of the building between West 40th and West 41st streets, JLL said. Asking rent was in the mid-$70s per square foot.
The firm — which provides due diligence, risk management, location intelligence and workflow ideas for commercial real estate companies — also has offices in Connecticut, California and Toronto.
JLL’s Konsker, Winter, Landmann and Orban represented the landlord in this deal, too, while Zachary Price of CBRE (CBRE) brokered it for LightBox. Price did not immediately respond to a request for comment through a spokesperson.
“This is an ideal property for tenants seeking high-quality, move-in-ready space with superior access to mass transit and Midtown’s cultural offerings,” Konsker said in a statement. “These leases are an early indicator of the momentum by companies to return to the office.”
