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Deals & Dealmakers Featured Retail

Puma leases full floor at 5 Penn Plaza

Puma has signed a 10-year lease at 5 Penn Plaza, securing almost 30,000 s/f at the 24-story Midtown office building.

The athletic wear company will bring a fresh look to the century-old building when it occupies the entire 21st floor of the 687,384 s/f tower.

JLL represented Puma on the deal, with Bob Gibson, Jim Wenk and Kirill Azovtsev leading the way. The building owner, Haymes Investment Co., was represented by Peter Turchin, Jason Pollen and Hilary Whittier of CBRE.

“We were delighted to assist Puma in finding a terrific location for its new office and showroom headquarters in New York,” Gibson, JLL’s vice chairman, said. “The combination of the recently repositioned 5 Penn Plaza building, the ownership’s hands-on management approach and the office tower’s proximity to Hudson Yards made this property an ideal choice for Puma.”

Designed by John and Edward Larkin, 5 Penn Plaza was built in 1916. Two years ago, Home Investment Co. executed a multimillion-dollar capital improvement project. Located across from Madison Square Garden on Eighth Avenue between West 33rd and 34th Streets, the building is surrounded by a variety of other shoe stores and athletic apparel shops.

Puma will move from its current headquarters at 209 West 38th Street. It plans to use the new space to expand its sales office as well as its showroom.

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