West Publishing Renews at Rudin’s 3 Times Square
By Mark Hallum June 5, 2023 1:56 pm
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Thomson Reuters’ West Publishing locked in a five-year lease extension with Rudin Management at 3 Times Square, Commercial Observer has learned.
The extension is for 46,105 square feet across the entire 17th floor and a portion of the 18th floor, according to the landlord — it’s unclear what is left of Reuters’ footprint in the building after it sublet 33,219 square feet there in 2018.
Rudin did not disclose the asking rent in the building, which was developed in 2001 as the North American headquarters of Reuters. Average asking rent for Midtown office space was $76.95 per square foot in the first quarter of 2023, according to a Cushman & Wakefield report.
“Our partnership with Thomson Reuters to develop the original 3 Times Square was a bold move that ultimately helped pave the way for the entire neighborhood’s dramatic and ongoing renaissance,” Michael Rudin, executive vice president at Rudin, said in a statement.
Tom Keating represented Rudin in-house while JLL (JLL)’s Mitchell Konsker, Dan Turkewitz and Christine Tong represented the tenant.
“Rudin’s commitment to providing best-in-class office space and meeting the needs of the market with evolving amenities and tenant-tailored programming aligns with West Publishing Corp.’s core corporate values,” Konsker said in a statement.
Touro University also recently expanded in 3 Times Square, signing a 32-year lease for 309,400 square feet across nine floors. The deals followed a $25 million facelift for the building in 2020 with designs by FXCollaborative intended to attract new tenants.
Mark Hallum can be reached at mhallum@commercialobserver.com.
