Invesco Real Estate has appointed Newmark Grubb Knight Frank (NGKF) exclusive leasing agent for 1370 Broadway, a classic boutique-style office building located in Times Square South that was recently acquired by a partnership sponsored by Invesco.
Built in 1922, the 17-story, 280,000-square-foot Class A office building is conveniently located midway between Times Square and Herald Square, near major transportation hubs at Penn Station, Port Authority and Grand Central Station. With 13-foot ceilings, abundant light and unobstructed views of 6thAvenue to the east, the building offers corporate users a wide variety of options to customize the 17,000-square-foot floor plates.
“This long-term investment gives us the opportunity to tap into growing demand from growth sectors such as tech/advertising/media/information that continue their unabated expansion in New York City. They are increasingly looking for more cost-effective alternatives to Midtown South, where they traditionally have landed. One of those areas of interest is Times Square South,” said Lesley Lisser, a director in asset management for Invesco Real Estate.
Having recently undergone a multi-million dollar renovation, 1370 Broadway offers a newly modernized lobby atrium, including a glass entry highlighted by a classic canopy with new revolving doors. The building also presents upgraded elevator cabs featuring digital screens for the latest news and updates for tenants.
“Invesco is undoubtedly committed to the building and creating an office environment that ensures its tenants’ success,” said Brian Waterman, a vice chairman in NGKF’s Manhattan office, who will lead the leasing efforts with Michael Dreizen, senior managing director, and Courtney Adham, managing director. “With its enviable location and adaptable space, corporate users have many options to design a space that’s optimal for its employees and operations.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.
About Invesco Real Estate
Established in 1983, Invesco Real Estate manages $59.7 billion in private real estate, real estate securities and real estate debt as of March 31, 2014. With more than 360 employees and 19 offices worldwide, our professionals focus on top-down market and property type fundamentals combined with bottom-up local market intelligence.
Senior members of the management team have worked together for more than 16 years, contributing to the consistent implementation of Invesco’s investment strategy and resulting performance. For more information, please visit www.invesco.com.