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

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.

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.