NEW YORK CITY-In the latest tech move to come to Lower Manhattan, cloud-computing provider Medidata Solutions has inked a 10-year, 98,585-square-foot lease at 350 Hudson St., part of Trinity Real Estate’s Hudson Square portfolio, GlobeSt.com has confirmed. Under the new deal, the company will occupy the entire 7th, 8th and 9th floors in the 335,772-square-foot building.
Lisa Kiell, managing director at Jones Lang LaSalle, who represented the tenant on the deal, tells GlobeSt.com that Medidata will consolidate from its two current Midtown South offices at 79 Fifth Ave. and 111 Fifth Ave to the Hudson Square property. “They’ve just outgrown both of those spaces and needed bigger floorplates and more contiguous space,” she says, noting that the company needs more room for new personnel. “As we know, there is not a lot of space in that neighborhood, so they wanted to expand their look, but wanted to stay in a trendy area that is convenient for their employees and also nice for recruiting."
The 350 Hudson location will be used for Medidata’s office using staff, not a data center, Kiell says. The company – which provides advanced technology to enhance clinical trials – is used by medical companies, biopharmaceutical companies and academic and government institutions. The move-in will take place next year.
A haven for tech and creative companies, the building is also home to Tory Burch, a global fashion brand that signed an 80,000-square-foot lease in May. Asking rents, according to Trinty, ranged in the mid $50s per square foot.
“Hudson Square has become a hib fro creative high-tech business which are vital to this city’s future,” says Jason D. Pizer, president of Trinity Real Estate, in a statement. “Medidata Solutions, a pioneer since 1999 in New York City’s vibrant technology sector, is a global leader in cloud-based clinicial trail technologies. We are delighted to welcome the firm to our community.”
Hudson Square is also home to creative, arts and nonprofits companies such as iacom, Horizon Media, Omnicom, HAVAS, WNYC New York Public Radio/Jerome L. Greene Performance Space, CBS Radio East, New York Magazine, Postworks New York, Two Sigma Investments, 3.1 Phillip Lim, Thakoon, Splashlight Photographic and Digital Studios, The Children’s Museum of the Arts, The Jackie Robinson Foundation and National Audubon Society.
Marc Packman, director of Leasing, and Charles Laginestra represented Trinity on the transaction.
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