Newmark Grubb Knight Frank (NGKF) announced it completed two long-term lease extensions for Murex North America, Inc. (Murex) at 810 7th Avenue. NGKF’s Dennis Karr, managing director, represented the tenant in the transaction.
Murex, an innovative technology company specializing in capital markets software programming, currently operates in 22,437 square feet of space at 810 7th Avenue, occupying the entire 14th floor. The tech company, whose 10-year lease was coming due, renewed for another 10 years and two months. Simultaneously, it extended its sublease on the 12th floor for another four years and five months, in effort to be coterminous with its 14th floor lease. Murex is currently subleasing the 22,437-square-foot space on the 12th floor from Sidley Austin and is additionally subleasing it to two separate tenants.
“The flexibility of the open floor plan and the opportunity for a custom build-out is becoming increasingly popular among TAMI tenants,” said Karr. “We have seen high-profile tech and creative tenants migrating north from Midtown South during the past year to take advantage of the larger floor plates and aggressive rents offered. After evaluating several properties in Manhattan, we concluded that Murex’s current Midtown office with its open floor plan and abundance of natural light is unbeatable.”