Veeva Systems Signs 10-Year Lease For 62,000 Square Feet At Penn 2 In Midtown Manhattan

The property involved in the transaction is an office asset located at 2 Pennsylvania Plaza, in the Midtown Manhattan market. Veeva Systems signed a lease for 62,000 square feet at this address. The asking rent for the property was $110 per square foot. The lease term secured for this transaction is 10 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $110/ft.
• Square Footage: 62,000
• Address: 2 Pennsylvania Plaza
• Market: Midtown Manhattan
• Landlord: Steven Roth - Vornado Realty Trust
• Landlord's Representative: Josh Glick & Jared Silverman - Vornado Realty Trust
• Tenant's Representative: James Wenk & Kirill Azovtsev - Savills
• Lease Terms: 10 years

This lease transaction involves key individuals such as Steven Roth representing Vornado Realty Trust as the landlord. The landlord's interests were managed by Josh Glick and Jared Silverman, also from Vornado Realty Trust. Veeva Systems was represented in this deal by James Wenk and Kirill Azovtsev from Savills, facilitating the relocation of their New York office from 1375 Broadway to Vornado Realty Trust's Penn District tower.