Leases  ·  Office

Security Services Firm Relocating to 20K SF at 498 Seventh Avenue

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A new tenant has secured the perimeter around a portion of the 14th floor of 498 Seventh Avenue, Commercial Observer has learned.

Securitas Security Services has signed a 10-year, 19,500-square-foot lease at George Comfort & Sons’ Midtown office building, where it will move to later in the year from its current digs at 1412 Broadway, according to the landlord. The landlord did not disclose the asking rent, but a recent report from Colliers (CIGI) placed the average asking rents in Midtown at $78.35 for the first quarter of 2023.

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“We have revitalized 498 Seventh Avenue to provide companies with a stylish and convenient home base for their employees,” George Comfort CEO Peter Duncan said in a statement. “[The tenant] was drawn to 498 Seventh Avenue’s efficient floor plates, natural light and the investments we’ve made to position the tower as a premier office environment in an ideal Midtown location.”

Andrew Conrad and Matthew Coudert negotiated in-house on behalf of George Comfort while David Opper and Eddie Sisca of CBRE (CBRE) represented Securitas. A spokesperson for CBRE declined to comment.

Other tenants in the 25-story, 960,000-square-foot building between West 36th and West 37th streets include Cosentini Associates, Milrose Consultants, Dattner Architects and The McKissack Group, which signed a 11-year lease for 14,113 square feet in June 2022

Mark Hallum can be reached at mhallum@commercialobserver.com.