Leases  ·  Office

IT Firm Ahead Expands to 16K SF at 500 Fifth Avenue

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An IT solutions provider is tacking on an extra 10,238 square feet to its 500 Fifth Avenue offices, Commercial Observer has learned.

Ahead expanded its offices to a total of 16,486 square feet across the entire 17th floor of the building, according to landlord broker Cushman & Wakefield (CWK). Moises Cosio, an heir to a banking and real estate fortune, is listed as the owner in property records.

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C&W did not disclose the length of the lease, but said asking rent was $95 per square foot.

In February, Ahead announced that it had acquired fellow IT firm CDI, moving into its offices at 500 Fifth, where CDI had been for about a decade.

“As a longstanding tenant of the property, Ahead’s decision to continue and expand their occupancy emphasizes the building’s quality and prime location just steps away from Bryant Park, providing a seamless commute for their employees,” C&W’s Harry Blair, who represented the landlord alongside Lauren Hale and Michelle Mean, said in a statement.

Michael Poch and Harly Stevens of CBRE (CBRE) negotiated on behalf of the tenant and declined to comment.

Other tenants in the 59-story building constructed in 1931 include W. W. Norton & Company, which leases about 95,000 square feet and has been in the Art Deco tower for about a half-century, as well as law firm Wollmuth Maher & Deutsch.

Clothing retailers Vince and Zara are located on the ground floor of the building.

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