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Healthcare Tech Firm Ops for 5 Penn Plaza in Off-Market Lease
CBRE arranged an office lease at 5 Penn Plaza with Aetion. The healthcare technology company has committed to 29,000 square feet at the 24-story, 690,000-square-foot tower on Eighth Avenue between West 33rd and West 34th streets.
The CBRE team of Peter Turchin, Jason Pollen and David Caperna spearhead the leasing campaign at 5 Penn Plaza, and represented ownership in the 10-year lease, which came with a complication. Cushman & Wakefield’s Doug Regal and Jamie Katcher represented the tenant.
“This off-market transaction involved the early termination of an existing tenant lease to accommodate Aetion’s long-term real estate requirements and expansion from 1441 Broadway,” said Pollen. “The ownership has fully renovated 5 Penn in anticipation of the exciting changes taking shape in the neighborhood, such as the Hudson Yards and redevelopment of the adjacent Farley building, and this has proven out as a timely strategy.”
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