Extron Electronics Renews 4K-SF Offices at 247 West 37th Street
By Mark Hallum April 18, 2023 10:41 am
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Extron Electronics, which specializes in developing and manufacturing audiovisual equipment, signed on for another five years at its New York City headquarters in GFP Real Estate’s 247 West 37th Street.
The Anaheim, Calif.-based Extron first leased 4,100 square feet on the eighth floor of the building in 2012 and uses the space as an executive office, according to the landlord, who did not disclose the asking rent.
Midtown asking rents averaged about $77.49 per square foot in the first quarter of 2023, according to a Transwestern report released Monday.
Matthew Mandell of GFP Real Estate represented both the landlord and the tenant in the transaction.
“Successful global companies like Extron are looking to the future and extending their leases,” Mandell said in a statement. “As manufacturers of professional AV systems, the company wanted to remain in its convenient location in the Garment District.”
Extron develops audiovisual technology for business clients and has about 30 other offices worldwide, including outposts in Toronto, London and Paris.
At 19 stories and 271,000 square feet, 247 West 37th was designed by Gronenberg & Leuchtag and completed in 1924. At that time, the Garment District tower on 37th Street between Seventh and Eighth avenues was known as the Bricken Centre Building.
Other tenants in the building include Workmen’s Circle, The Settlement Housing Fund and Colombia-based textile producer Greentex America, which signed a five-year lease for 4,371 square feet on the 17th floor in January.
Mark Hallum can be reached at mhallum@commercialobserver.com.
