Payments Manager Corpay Cross-Border Relocates to 18K SF at 560 Lexington Avenue

An international payment and currency risk management firm is planning a headquarters relocation to Rudin’s 560 Lexington Avenue.

Corpay Cross-Border Solutions, which operates under corporate payments company Corpay, has signed an 11-year lease for 17,778 square feet at the Plaza District tower, Commercial Observer has learned. 

The landlord declined to provide the asking rent, but an April lease inside Rudin’s 22-story tower asked $84 per square foot, according to previous CO reports.

Jacob Rosenthal and Kevin Carroll of CBRE represented Corpay, while Rudin was represented in-house by Kevin Daly and a CBRE team of Peter Turchin, Brett Shannon, Eric Deutsch and Lauren Levy.

Corpay Cross-Border plans to move from Tishman Speyer‘s 300 Park Avenue into its new, prebuilt office, which occupies the entire 17th floor of 560 Lexington, this fall. Daly, Rudin’s vice president of office leasing, stated that the deal validates recent portfolio investments, which allowed for minimal modifications to meet Corpay’s space requirements.

“This allowed us to accommodate their accelerated timeline for move-in, which was a big factor in getting the deal done,” Daly said.

Located two blocks from Grand Central Terminal, the 380,000-square-foot office building at the corner of Lexington Avenue and East 50th Street has seen over 91,000 square feet of leasing activity in the last six months, according to Rudin. Recent arrivals include financial firm Marex, hedge fund SummitTX and coworking firm Industrious.

Spokespeople for CBRE and Corpay Cross-Border did not immediately respond to requests for comment. 

Emily Davis can be reached at edavis@commercialobserver.com.