Allied Universal More Than Doubles Space in Move to 501 Seventh Ave.
Allied Universal has expanded and relocated from a 12,000-square-foot space at Empire State Realty Trust’s One Grand Central Place to a 30,000-square-foot space at the REIT’s 501 Seventh Ave. The tenant is a provider of security and technology services.
“The market flight to quality is not just about new development; it is about tenant’s desire for newly built and renovated, energy-efficient office space in modernized healthy buildings with convenient access to mass transit at an accessible price point,” said Thomas P. Durels, EVP, real estate at ESRT.
Louis D’Avanzo and Michael Baraldi of Cushman & Wakefield represented Allied Universal in leasing negotiations. Shanae Ursini of ESRT and a Cushman & Wakefield team of Ron Lo Russo, Heather Thomas, Patrick Murphy, Will Yeatman and Pierce Hance represented the property owner.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).