Once the headquarters of the Port Authority of New York and New Jersey, the building takes up an entire city block from Eighth to Ninth Avenues and from 15th Street to 16th Street. Built in 1932, the 16-story, 2.6 million-sf structure has 14.5 foot high ceilings and can handle floor loads up to 200 pounds per sf.

"The availability of abundant and reliable power, combined with proximity to fiber, makes this an ideal location for Sprint and 360networks," says Andy Nick, a principal of building owner Taconic Investment Partners. "Two new leases with highly regarded credit tenants further strengthen 111 Eighth Ave. as a lead telecommunications center."

Brian Gell, Gary Kamenetsky and Susan MacWilliams of Insignia/ESG represented Taconic, Katherine Lyons of Jones Lang LaSalle negotiated for Sprint and John Peters of Technology Real Estate spoke for 360networks.