Savanna announced the signing of a new 16,884 s/f office lease at 104 West 40th Street, its landmark Class A office building next to Bryant Park in Midtown Manhattan.
The 210,000 s/f, 20-story office building was acquired by Savanna in August 2010.
Vox Media, the Washington D.C.-based publisher of websites such as SB Nation, The Verge, and Polygon, has signed a lease for 16,884 s/f, encompassing the entire 12,500 s/f 9th floor and 4,400 s/f of the 8th floor.
The company will occupy a custom-built suite designed by Robert Finger of Fogarty Finger Architecture.
The space offers Vox Media a boutique two-floor presence with an open layout, and includes custom design features such as open ceilings and floors that incorporate polished concrete.
Vox Media was represented by Steven Rotter and Jeffrey Fischer of Jones Lang LaSalle.
“We are thrilled to welcome Vox Media to 104 West 40th Street and to continue our successful leasing of the property. With this new lease, we have signed over 83,000 square feet of new office leases, including TKP New York, a conference facility provider, and RDA Ventures, an investment firm,” said Cooper Kramer, vice president at Savanna.
“The building’s prime Midtown location and premier office space continue to drive steady demand, and the Vox Media lease demonstrates the strong interest we have received from a diverse group of companies in the media, technology, and creative industries who are attracted to 104 West 40th Street’s boutique presence in the Bryant Park neighborhood.”
Savanna has launched a major marketing and leasing program for the remaining 60,000 s/f of available space at 104 West 40th Street, which includes a 50,000 s/f contiguous block on the 5th through 8th floors and an additional 6,610 s/f full tower floor.
“104 West 40th Street is an ideal location for Vox Media’s New York City headquarters, offering a beautiful, custom-built office suite diagonally across from Bryant Park, excellent building amenities, and convenient access to major transportation,” said Paul Amrich, vice chairman in the New York City Brokerage Services Group at CB Richard Ellis (CBRE).
Amrich, Michael Movshovich, and Neil King of CBRE represented Savanna in the transaction.
“This significant leasing activity is a testament to ownership’s capital plan to reposition the property and the strength of the Midtown market, and we feel very confident in our continued success in early 2012 given the current level of activity on the remaining availability,” said Amrich.
Since 2007, building ownership has invested over $10 million in major base building upgrades, including a newly refurbished plaza entrance on 40th Street, and a renovated lobby that includes a icommissioned modernist mural by Sarah Morris.
Since acquiring the building in 2010, Savanna has built a marketing floor on the 4th floor, completed a terrace on the 7th floor, and completed the 19th floor prebuilt suite. A capital program includes upgrades to the building HVAC system building envelope, and installation of full building sprinkler infrastructure.