Marketing AI Platform Vendelux Signs 8K-SF Lease 115-125 West 30th Street
By Mark Hallum January 16, 2024 4:44 pm
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An artificial intelligence development firm focusing on marketing events will move its offices within Midtown, Commercial Observer has learned.
Vendelux has signed a 7,900-square-foot lease with Justin Management at 115-125 West 30th Street, according to a source with knowledge of the deal, who did not disclose the length of the lease.
Asking rent was $46 per square foot, the source said.
“This space worked for a Vendelux specifically for a few reasons,” Cheryl Anavian, who represented Justin Management in-house with Adam Justin, told CO. “The space is gorgeous, it’s got a full line of south-facing windows, it’s fully built out, and we’re finding these days that the way we’re getting deals done is by creating space that will be delivered furnished.”
Eric Siegel of LSL Advisors negotiated on behalf of Vendelux. Siegel declined to comment.
It wasn’t made clear if this is a relocation, but Vendelux’s most recent address is listed at 4 East 27th Street.
The space allows Vendelux to grow within the footprint. Anavian said she believes there is a chance the tenant’s needs could call for an expansion at a later date, which is consistent with the company’s growth plan.
Vendelux was founded in 2021 by Alex Reynolds and Stefan Deeran. It closed on a $14 million Series A round in November and plans to use the funds to more than double its headcount and open a London office, according to a press release.
Other tenants in the 12-story building, constructed around 1912, include lending platform Lendzi and health care provider Holistic Medical.
Mark Hallum can be reached at mhallum@commercialobserver.com.
