Allied Universal Doubles NYC Footprint to 30K SF With Garment District Move
By Celia Young July 27, 2022 1:50 pm
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Security firm Allied Universal locked down a deal to double its New York City footprint to 30,000 square feet at Empire State Realty Trust’s 501 Seventh Avenue, Commercial Observer has learned.
The security technology and staffing provider inked a 10-year lease to move from its 12,000-square-foot offices at 1 Grand Central Place to the Garment District tower. Asking rent was $62 per square foot, according to the landlord.
Pennsylvania-based Allied will trade Grand Central Station for Pennsylvania Station when it relocates to the building between West 37th and West 38th streets, after spending five years at 1 Grand Central Place. ESRT declined to comment on when the security firm would move to its new offices.
“The market flight to quality is not just about new development; it is about tenants’ desire for newly built and renovated, energy-efficient office space in modernized healthy buildings with convenient access to mass transit at an accessible price point,” Thomas Durels, ESRT’s executive vice president of real estate, said in a statement.
Allied’s new space will neighbor its outpost at 229 West 36th Street, one of its seven locations in the city. Tenants at the 18-story, 461,000-square-foot 501 Seventh include insurance provider Argo Group, media firm Captivate and clothing company PVH Corp., known for brands such as Tommy Hilfiger and Calvin Klein.
Cushman & Wakefield’s Louis D’Avanzo and Michael Baraldi represented the tenant. Ron Lo Russo, Heather Thomas, Patrick Murphy, Will Yeatman and Pierce Hance, also of C&W, handled it for the landlord alongside ESRT’s Shanae Ursini. Representatives from C&W did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
