Macy’s Expands Footprint at 1440 Broadway
- Jan 05, 2011
January 5, 2011
By Allison Landa, News Editor
There’s a little more room for fashion statements now that Macy’s has signed a lease expansion at 1440 Broadway, which is located near the center of Times Square.
The 56,242-square-foot space will be used for the retailer’s corporate office needs. It has been in the building since 2003 and to date has expanded its footprint by more than 130 percent. Now having signed the long-term lease for the entire eighth floor and part of the ninth floor, Macy’s will occupy more than 161,000 square feet in the building.
In total, 1440 Broadway encompasses 743,000 square feet and 25 stories, offering floor plates of 21,500 to 34,000 square feet. Other tenants include Liz Claiborne, Conde Nast and Mizuho Capital Markets. It is 100 percent leased.
CB Richard Ellis vice chairmen Scott Gottlieb and Michael Laginestra represented Macy’s, while Jordan Berger of Monday Properties represented the landlord. According to Monday Properties chief operating officer Brian Robin, the deal marks the latest cycle of expansion with Macy’s that was arranged in advance of an expiring block of space. He added that the retailer’s continued growth in a fully leased building underscores the recovery of the Manhattan leasing market.