There’s life within the Instances Sq. workplace market regardless of current exits of a number of giant tenants. Pattern-setting lab-made jewellery chain Pandora is shifting its US headquarters from Baltimore to 1540 Broadway, the previous Bertelsmann Constructing, taking 27,936 sq. ft on the thirty fifth ground. The asking lease on the 15-year lease was $82 per sq. foot, sources mentioned.
A supply mentioned that Pandora was drawn by sprawling views and the constructing’s lavish new facilities middle.
Not one of the brokers would remark. Clark Finney and Frank Doyle led a JLL group that represented the owner. A special JLL group acted for Pandora.
As we reported final spring, the 44-story tower, which is owned by Edge Fund Advisors and HSBC, secured $590 million in financing for the workplace flooring (Vornado owns the retail area). It’s now almost 70% leased.
