FGS Global Signs 15-Year Lease For 80000 Square Feet At 2 Pennsylvania Plaza In Manhattan

The property asset involved in this transaction is an office space located at 2 Pennsylvania Plaza in Manhattan. FGS Global has secured a lease for a total of 80,000 square feet at an asking rent of $115 per square foot, with a lease term of 15 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $115/ft
• Square Footage: 80,000
• Address: 2 Pennsylvania Plaza
• Market: Manhattan
• Landlord: Steven Roth - Vornado Realty Trust
• Tenant: FGS Global
• Landlord's Rep: Josh Glick & Jared Silverman - Vornado Realty Trust; Josh Kuriloff & Bruce Mosler - Cushman & Wakefield
• Tenant's Rep: Michael Liss - CBRE
• Lease Term: 15 years

This transaction sees FGS Global expanding its office presence, moving from a 60,000-square-foot facility at 909 Third Avenue to the redeveloped Penn 2 tower above Penn Station, reflecting a significant increase in their operational footprint in Manhattan.