NEW YORK CITY—Indeed has signed a long-term lease for 125,000 square feet at the Hippodrome Building, at 1120 Ave. of the Americas, with building owner Edison Properties.
The world's largest job search engine will move to the Class A, 485,550-square-foot office building—between 43rd and 44th streets— from its previous offices at 125 W. 55th St.
The tenant was represented by JLL vice chairman Lisa Kiell while the landlord was represented by Cushman & Wakefield EVP John Cefaly, vice chairmen Michael Burgio and Gus Field, as well as leasing officer David Berke.
"The central location, efficient floor plate and superior management at 1120 Avenue of the Americas, coupled with the incredible outdoor space, provides a powerful attraction and retention tool for employees," says Kiell.
Indeed will occupy the ninth floor, the 11th floor through the 13th floor and the 16th floor at the Hippodrome Building, Indeed's New York office has more than doubled in recent years, growing from 116 employees in 2012 to about 250 employees today. This matches the overall global growth of the job search site, which saw revenue jump 71% year-over-year in 2015, and is nearing 2,000 employees in 20 offices around the world.
"The Hippodrome Building will offer a truly unique experience for our employees," adds Derek Stewart, head of real estate at Indeed. "The design concept pays homage to interesting industries that call New York home. We're placing much thought into creating an environment that will attract top talent."
The 19-story Hippodrome Building replaced the Hippodrome Theatre, which closed in 1939. A five-story office building was constructed on the site in 1951 and then expanded to eight stories in 1958 and expanded again to 19 stories in 1963. The office property was acquired by Edison Properties in 1978 and underwent a complete modernization in 2006. Ownership recently launched a multimillion-dollar capital improvement program at the property.
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