Campus.edu, HR&A Advisors Ink Deals at 99 Hudson Street
By Mark Hallum December 21, 2023 12:01 pm
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Olshan Properties has one new tenant and another re-upping its lease at 99 Hudson Street.
Online college Campus.edu will be moving into a 9,300-square-foot space in the Tribeca office building in a relocation from its current headquarters at 138 Spring Street, set to happen in November 2024, according to the landlord.
Meanwhile, real estate consultant HR&A Advisors renewed its lease for 12,111 square feet on the third floor of the building. It originally moved in 2008.
Both were five-year deals and Olshan declined to provide asking rents in the building, but the average asking rent for downtown Manhattan office space was $57.19 per square foot in the third quarter of 2023, according to a report from CBRE.
“As a tech company with a focus on education, Campus was looking for new corporate headquarters to accommodate their significant growth as they relocated from SoHo,” Kyle Galin of Handler Real Estate, who represented Campus alongside Darell Handler, said in a statement. “They were attracted to the great light and views at 99 Hudson, as well as the location, quality of the building, and the modern design of the floor.”
The landlord was represented in both deals by Eric Cagner, Jonathan Franzel, Claire Koeppel and David Falk at Newmark (NMRK) while Michael Mathias of Cushman & Wakefield (CWK) negotiated on behalf of HR&A Advisors. Newmark and C&W declined to comment.
The 17-story 99 Hudson was originally built as an industrial building in 1920 but was redeveloped into office and retail condominiums in the 1990s, according to the landlord.
Other tenants include retail platform Leap, which signed a 12,159-square-foot deal in 2022, as well as architecture firm ODA New York and media investment agency Evergreen Trading, which each leased 12,200 leased in 2021.
Mark Hallum can be reached at mhallum@commercialobserver.com.
