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NEW YORK CITY - Océ USA Holdings, Inc., a leading international provider of digital document management technology and services, has leased a full floor of approximately 30,000 square feet at 1333 Broadway, a W&H property in the Penn Plaza district, announces Jonathan T. Fanuzzi, managing director of Newmark Knight Frank, the building’s managing and leasing agent.
"One of the objectives of our $71-million upgrade program, which is nearly complete, is to attract tenants of Océ's caliber," says Mr. Fanuzzi. "It's notable that this transaction follows the recent lease with Aetna Insurance Company."
He continues: "The building's appeal is further heightened by the strong reputation of ownership, which is known for long-term financial stability, and by the presence of other W&H buildings nearby where massive upgrade programs are complete, such as 1359 Broadway and 501 Seventh Avenue. These buildings show tenants the high standards they can expect at 1333 Broadway. In other words, tenants see exactly what ownership is promising. And thanks to ownership's track record, they know these promises will be delivered."
Océ employs approximately 24,000 people and operates in more than 90 countries. It maintains research and manufacturing centers in the Netherlands, the United States, Canada, Germany, France, Belgium, the Czech Republic, Romania and Singapore. Océ North America is headquartered in Trumbull, CT, with additional business units in Chicago, IL; New York City; Boca Raton, FL; Salt Lake City, UT and Vancouver, BC.
Michael Liss of CB Richard Ellis represented the tenant in the lease negotiations. Mr. Fanuzzi represented the landlord, together with Brian Waterman and Brandl Frey of Newmark Knight Frank.
Situated in the center of the Penn Plaza District, steps away from Macy's flagship location, 1333 Broadway contains 12 stories and 350,000 square feet. It offers unsurpassed access to the Long Island Rail Road, New Jersey Transit, Amtrak, the Port Authority Terminal, the PATH and fifteen subway lines.
The property's upgrades encompass a new lobby and roof, new restrooms, addition of two new elevators and renovation of the three existing passenger elevators, renovations to the freight elevators, new windows, renovated air-conditioned public corridors, and improvements to all building systems, including electrical, plumbing, HVAC and security.
Part of the W&H Properties portfolio, the building is owned by 1333 Broadway Associates, L.L.C, a partnership led by Peter L. Malkin and Anthony E. Malkin.
Broker commissions are paid in full at lease signing.
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