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.