Media Firm Evergreen Trading Secures 20K SF at One SoHo Square
By Amanda Schiavo December 11, 2024 11:36 am
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Evergreen Trading, a media investment firm, will take over 20,309 square feet at Stellar Management’s One SoHo Square, Commercial Observer has learned.
Evergreen will move from 99 Hudson Street to the SoHo building at 233 Spring Street in the first quarter of 2025, according to JLL (JLL), which represented the company in the seven-year sublease with Flatiron Health, a health care tech company focused on cancer research. The move will double Evergreen’s office footprint and is part of Evergreen’s strategy to expand and offer more services.
“This relocation reflects our focus on fostering a dynamic and collaborative work environment for our team while aligning with our long-term business objectives,” Gordon Zellner, Evergreen founder and CEO, said in a statement. “At Evergreen, our mission is to deliver innovative and impactful solutions for our clients, and this new space positions us to continue driving success together.”
JLL did not disclose the asking rent. However, reports from The Real Deal note asking rents between $76 and $128 per square foot at One SoHo Square, a 768,000-square-foot, 19-story office property on Spring Street between Varick Street and Sixth Avenue.
“As vacancy among the city’s best properties continues to tighten, One SoHo Square provides Evergreen with best-in-class space with exceptional amenities and services reflecting their desire to create a superior work environment that attracts and retains top talent,” JLL’s Michael Berman, who brokered the deal for Evergreen, said in a statement. “The new office space will support both immediate needs and future expansion.”
Flatiron Health was represented by Savills’ Zev Holzman. Holzman did not immediately respond to a request for comment.
Flatiron has been occupying several floors of One SoHo Square since 2018, CO previously reported. The biotech company has been on an upward growth trajectory since its founding in 2012, as it works to help oncologists better understand and treat cancer. The company’s footprint grew to 252,452 square feet in One SoHo Square in 2019.
Tenants at One SoHo Square include eyewear retailer Warby Parker, e-commerce platform Yotpo, cosmetics company MAC, and health insurer Aetna.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
