NEW YORK CITY—Varonis Systems, a business technology firm, has expanded its space at 1250 Broadway by adding 30,712 square feet in a 10-year lease. In addition, the company has renewed its existing 15,356-square-foot lease at the Jamestown property.
The transaction brings 1250 Broadway to 98% occupancy and further illustrates the trend of growing technology and creative firms moving into Midtown South seeking full-floor opportunities. Jamestown was represented by Cushman & Wakefield's Mitch Arkin, Justin Royce, Kelli Mekles and Michael Blanchard. Douglas Regal and Evan Algier of ABS Partners represented the tenant.
“Broadway between the Nomad District and Flatiron is quickly becoming a burgeoning and dynamic area for many tech, media and creative companies,” says Michael Phillips, COO of Jamestown. “Varonis Systems expanding within 1250 Broadway further indicates that the NYC tech corridor is beginning to stretch north into Midtown.”
The tenant credits Jamestown with creating a welcoming atmosphere for technology tenants, making the firm inclined to renew and expand. “The tower floors at 1250 Broadway presented the ideal opportunity for Varonis to meet its growing space requirements in New York,” says Regal. “The building's central location and outstanding natural light and views, combined with Jamestown's forward-thinking business strategy, will allow Varonis to create the exciting, collaborative environment it has envisioned for its headquarters.”
That “forward-thinking business strategy” includes the community of tech tenants that the property owner has built, the prime location of the building and the fact that the building has been awarded a Wired Certification Gold status by WiredNYC.
Varonis expands within a rich community of creative tenants at 1250 Broadway including Pegasus Solutions, Rocket Fuel, Piksel, Liebert/Emerson, and Technology Solut; and other prominent firms in the Midtown South area including Linkedin and IPG. The building has recently been awarded Wired Certification Gold status by WiredNYC, an organization aimed at bringing transparency to broadband connectivity in New York City office buildings.
The lease renewal and expansion announcement follows Jamestown's commitment to a $3 million plaza renovation at 1250 Broadway slated for completion fall 2014.The plan includes a new glass curtain wall at the second floor; stainless steel canopy with LED lighting; new 'white glass' primary façade material, including a specially-detailed shadowbox element highlighting the building's address; granite planter box installations, and energy-efficient LED light fixtures.
Amenities at the Class-A, LEED-Gold certified property include 24/7 security, a newly upgraded lobby, elevators and building systems, a 150 indoor car parking garage and 360-degree unobstructed panoramic views. Gaonnuri, a high-end authentic Korean restaurant, occupies the 39th-floor penthouse.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
