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New York & Tri-State  + Midtown New York  + Office  | 

WeWork Commits to 8 Floors with CIM Group

CIM Group has signed WeWork to a long-term lease for approximately 236,000 square feet at 1440 Broadway. Deal terms and the names of brokers involved were not disclosed.

The coworking firm will get a newly-constructed, private entrance and lobby on 41st Street, with dedicated elevator access to its occupied space on floors 14 through 21.

The WeWork deal comes about a year into CIM’s $520-million ownership of the 25-story, 747,000-square-foot office property. It’s currently executing on a capital improvement program that’s expected to be completed in the first quarter of 2019.

“Given the exceptional demand we’re seeing from companies wanting to be based around Bryant Park, we have continued to expand our presence in the area,” said Granit Gjonbalaj, chief real estate development officer at WeWork. “Today, we have over 10 locations within a 10-minute cab ride from the park, and 1440 Broadway will be among the largest of these.”

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About Paul Bubny

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 also 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 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.

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