Indeed Takes Five at Manhattan’s Hippodrome
- Nov 10, 2015
By Barbra Murray, Contributing Editor
Indeed, the job search engine giant, has committed to not one, not two, but five floors at the 21-story Hippodrome building in Midtown Manhattan. The technology company has signed a long-term lease with landlord Edison Properties for 125,000 square feet of space in the tower carrying the address of 1120 Avenue of the Americas.
Presently occupying just 55,000 square feet at 125 W. 55th St., Indeed was in need of digs with room for growth, and that’s what it found at the Hippodrome, following a search aided by commercial real estate services firm JLL’s Lisa Kiell. The new space in the 615,000-square-foot building can handily accommodate Indeed’s current staff of 250, and when the time comes–and that time is coming quickly for the fast-growing company–the digs on floors 9, 11, 12, 13 and 16 will provide ample elbow room for as many as an additional 450 employees.
Standing at the former site of the once-celebrated Hippodrome Theatre, the building at 1120 Avenue of the Americas opened as an office destination in 1951. Edison, which was represented by commercial real estate services firm Cushman & Wakefield in the transaction, acquired the asset in 1978 and repositioned it via a $55 million renovation in 2006. “The design concept pays homage to interesting job industries that call New York home. We’re placing much thought into creating an environment that will attract top talent,” Derek Stewart, head of real estate at Indeed, said in a prepared statement. Indeed’s neighbors in the tower will include the likes of American Express Publishing, BBC Worldwide Americas and TD Bank.
Indeed plans to make its move in January 2016.