GSI Exim America Relocating to BXP’s 7 Times Square
By Mark Hallum October 3, 2024 5:07 pm
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A Japanese trading firm that deals in everything from yarn to scientific equipment is relocating its Manhattan offices, Commercial Observer has learned.
GSI Exim America signed a 10-year, 5,205-square-foot lease at BXP’s 7 Times Square for new space on part of the 38th floor, according to a source with knowledge of the deal. Asking rent was $80 per square foot.
The tenant, a subsidiary of GSI Creos, is relocating from 5 Bryant Park, the source said.
David Berke and Brett Stein of Newmark (NMRK) handled the deal on behalf of the tenant while Peter Turchin, Alexander Golod, Caroline Merck and Alexandra Gordon of CBRE (CBRE) represented BXP. Newmark declined to comment while CBRE did not immediately respond to a request for comment.
Across its portfolio, BXP has seen solid leasing activity, closing 73 deals spanning 1.3 million square feet in the second quarter of 2024, with 445,000 square feet of that in New York City, CO previously reported in July.
The 48-story tower sits upon an entire city block surrounded by Broadway, West 42nd Street, Seventh Avenue and West 41st Street. It was completed in 2004 with designs by Skidmore, Owings & Merrill.
Mark Hallum can be reached at mhallum@commercialobserver.com.
