Law Firm Kilpatrick Townsend & Stockton Relocating to 28K SF at 3 Times Square
By Mark Hallum February 27, 2024 10:59 am
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Kilpatrick Townsend & Stockton is moving to Rudin’s 3 Times Square.
The Atlanta-based law firm signed a 10-year lease for 27,667 square feet on the entire 28th floor of the Midtown tower, according to the landlord. Kilpatrick Townsend & Stockton will relocate from its current New York City headquarters two blocks away at 1114 Avenue of the Americas, also known as the Grace Building, in the third quarter.
Rudin declined to provide asking rent in the deal, but Midtown asking rents averaged $82.89 per square foot in the fourth quarter of 2023, according to CBRE.
The New York Post first reported the transaction.
“The firm’s selection of 3 Times Square underscores the importance of the capital reinvestment program we are close to completing at the building and reinforces that, in today’s market, the quality of the building and ownership are more important than ever,” Michael Rudin, co-CEO of Rudin, said in a statement.
Mark Weiss and Sam Hollis of Cushman & Wakefield (CWK) negotiated on behalf of the tenant. Thomas Keating represented Rudin in-house with C&W’s Ron Lo Russo, John Cefaly, John Santora, Paige Engeldrum, Lou D’Avanzo, Michael Burgio and Daniel Organ.
A spokesperson for C&W did not immediately respond to a request for comment.
Built in 2001, 3 Times Square sits at the corner of 42nd Street and Seventh Avenue. Rudin has been renovating the building, which originally served as the North American headquarters of news company Reuters but has since become the home of Touro University, which signed a 32-year lease for over 309,000 square feet in early 2022 with an expansion in early 2023.
Mark Hallum can be reached at mhallum@commercialobserver.com.
