Pro Padel League Leases Office Space At 12 Pennsylvania Plaza In Manhattan For $80/ft

The property asset involved in this transaction is an office space located at 12 Pennsylvania Plaza in Manhattan. The total square footage of the leased area is 5,000 square feet, with an asking rent of $80 per square foot. This building features brand new construction completed in 2019, with efficient full floors and floor-to-ceiling glass windows that overlook 34th Street.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $400,000
• Tenant: Pro Padel League
• Landlord's Representative: Alexander Chudnoff, Benjamin Bass, Thomas Swartz & Henry Korzec - JLL
• Tenant's Representative: Elliot Zelinger - Savitt Partners
• Lease Type: Modified Gross Lease

This transaction involved key representatives including the JLL leasing team, which was noted for welcoming the Pro Padel League to their new location. The JLL team highlighted that the building offers a unique signage opportunity for tenants seeking brand visibility in a prime location. With this agreement finalized, only two full floors remain available for lease in the building.