Health Care Tech Firm Paige Inks 24K-SF Expansion at 11 Times Square
By Anna Staropoli October 7, 2021 3:58 pm
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Health care technology company Paige has expanded its offices at SJP Properties’ 11 Times Square with a 24,412-square-foot deal, Commercial Observer has learned.
Paige — a company specializing in bringing AI diagnostics to the health care industry — signed an 11-and-a-half year expansion and renewal for its offices on a part of the buildings’s 37th floor, according to the landlord’s broker, JLL. The square footage and lease term of Paige’s previous lease is unclear. A spokesperson for JLL declined to provide the asking rent, but CO has previously reported that asking rents at the property are up to $110 per square foot.
Neighboring tenants include Microsoft, law firm Proskauer and landlord SJP Properties, as well as companies in the finance, law and technology industries.
JLL’s Paul Glickman, Mitchell Konsker, Daniel Turkewitz, Diana Biasotti and Kristen Morgan represented SJP Properties alongside in-house broker Alexander Erdos. Newmark’s Neil Goldmacher and Josh Friedman handled the deal for Paige. A spokesperson for Newmark did not immediately respond to a request for comment.
“Tenants today demand an optimized workplace that is efficient, sustainable, healthy and convenient for their professionals,” Erdos said in a statement. “11 Times Square is perfectly positioned to meet these exacting requirements, while providing a vibrant, headquarters-quality environment that gets employees excited about coming into the office.”
Four floors below, insurance company RLI Corp. signed a nearly eight-year lease for 7,700 square feet. The company will move from its previous office at 620 Eighth Avenue to occupy part of 11 Times Square’s 33rd floor.
Glickman, Konsker, Turkewitz, Biasotti, Morgan and Erdos represented SJP Properties in that deal. JLL’s Martin Horner and T.J. Hochanadel handled it for the tenant.
“11 Times Square stands out in the market based on the quality of its construction and infrastructure, as well as its extraordinary views and easy access to transportation,” Biasotti said in a statement. “The property, which is ideally positioned between Bryant Park and the new West Side, has demonstrated consistent leasing momentum.”
The latest leases, totaling 32,112 square feet, bring the 40-story, 1.1 million-square-foot Midtown building to 96 percent occupancy, according to JLL.
Anna Staropoli can be reached at astaropoli@commercialobserver.com.
