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Tishman Speyer’s Morgan North Revamp Lands 320K-SF Lease Commitment
Just weeks after acquiring a 99-year lease on the U.S. Postal Service’s Morgan North facility to redevelop the upper floors as 630,000 square feet of creative office, Tishman Speyer has gotten a commitment for more than half of it. Dentsu Aegis Network will lease 320,000 square feet at the redevelopment, located in West Chelsea at 341 Ninth Ave.
A subsidiary of Tokyo-based international advertising and public relations firm Dentsu Inc., Dentsu Aegis will occupy half of 341 Ninth’s 200,000-square-foot sixth floor and all of floors seven through 10 in a 15-year lease.
The firm will consolidate all of its Manhattan employees from three locations into the new space beginning in 2023. The Postal Service will continue occupying the property’s lower five floors.
A Cushman & Wakefield team of Richard Bernstein, Adam Ardise and Jared Thal represented Dentsu Aegis in the transaction. Tishman Speyer was advised by an in-house team.
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
