Adobe Inc. Leases 109296 Square Feet At 1540 Broadway New York From Edge Fund Advisors

The property involved in this transaction is located at 1540 Broadway, New York, NY, 10001. This Class A office building, built in 1989, consists of 44 stories and spans a total of 906,287 square feet with a current vacancy rate of 21 percent. Adobe Inc. has renewed its lease in this building, expanding its space from 27,323 square feet on the 17th floor to a total of 109,296 square feet across the 17th, 18th, 19th, and 20th floors. The landlord of the property is Edge Fund Advisors.

Summary of transaction details:

• Property Type: LEASE
• Transaction Amount: Not Applicable
• Address: 1540 Broadway, New York, NY, 10001
• Market: New York
• Tenant: Adobe Inc.
• Landlord: Edge Fund Advisors
• Tenant's Representatives: Kellam Nelson, Carter Beim, Franklin Wallach (Colliers International)
• Brokers: Mary Ann Tighe (CBRE), Brian Given (Colliers International)
• Square Feet Leased: 109296
• Previous Lease Size: 27323
• Building Last Sold: 2011
• Notable Tenants: Viacom, China Central Television, Pillsbury Winthrop Shaw Pittman
• Renovation Cost: $40 million
• Renovation Features: 27,000-square-foot amenity floor, fitness center, coffee bar, food hall, lounge, conference center
• Building Energy Production: Co-generation plant producing 70 percent of energy on-site

The transaction involved a team from CBRE, including Mary Ann Tighe, Howard Fiddle, Eric Deutsch, Christie Harle, Jason Pollen, and Benjamin Joseph, representing the owner, Edge Fund Advisors. Additionally, Adobe was represented by a Colliers International team, which consisted of Brian Given, Sheena Gohil, Carter Beim, Kellam Nelson, Jack Senske, and Franklin Wallach. This leasing deal highlights a significant expansion for Adobe within the competitive New York office market. NOTE: Creative software firm Adobe has renewed its lease at a New York City office tower, quadrupling its space to 109,296 square feet.