375 Hudson St.
NEW YORK CITY—Publicis Groupe has signed a 960,000-square-foot lease at 375 Hudson St. The massive space includes a renewal of its existing 680,000-square-foot premises plus an expansion of an additional 280,000 square feet. The 20-year lease is the largest, longest-term deal in the Hines, Trinity Church Wall Street and Norges Bank Real Estate Management joint venture portfolio. The owners had formed the JV called Hudson Square Properties in 2016.
Additional terms of the lease were not disclosed. However, a leading commercial real estate research and analytics firm, the CoStar Group, tells GlobeSt.com that estimated rents in the building hover in the $80 per square foot range.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
