Equity Office has signed a lease expansion and extension with VTS, which will double the size of the company’s headquarters to 31,700 s/f at 114 West 41st Street.
VTS, the real estate industry’s leading leasing and asset management platform, has occupied 15,769 s/f across the entire 11th floor at 114 West 41st Street since April 2016.
Under the lease expansion, the company’s footprint will grow to encompass all of the 15,931 s/f tenth floor. VTS also signed a lease extension, which will keep its headquarters at 114 West 41st Street through 2024.
“The progressive design, stylish amenity space, and collaborative environment that we have created through the repositioning of 114 West 41st proved to be the perfect fit for a cutting-edge tech company like VTS,” said Scott Silverstein of Equity Office. “We are pleased that we could accommodate the company’s impressive growth.”
Founded in 2012, VTS is a platform that owners and brokers use to increase revenue, improve productivity and reduce risk across their portfolios. In November 2016, VTS merged with Hightower, bringing owners, investors and brokers from around the globe together on one platform. Today, the growing brand has over 200 employees and more than 5.5 billion square feet under management.
“Following the merger of VTS and Hightower, we prioritized bringing both teams together under one roof, allowing us to collaboratively tackle our ambitious goals as one combined team. 114 West 41st provides a vibrant setting for our employees to produce exceptional work in a location that allows us to conveniently serve our clients,” said Ryan Masiello, co-founder and chief revenue officer of VTS.
VTS was represented by Jim Wenk of JLL and Patrick Heeg of Transwestern. Equity Office was represented in-house by Zachary Freeman and Silverstein, along with Erik Harris, Scott Klau, Ben Shapiro, and Zach Weil of Newmark Grubb Knight Frank.