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WeWork Takes 260K SF at TH Real Estate’s 21 Penn Plaza

TH Real Estate, an affiliate of Nuveen, the investment management arm of TIAA, leased 258,344 square feet at 368 Ninth Ave. in New York to WeWork. The coworking operator will occupy space across 10 floors at 21 Penn Plaza, a 16-story, 380,000-square-foot office building at Ninth Avenue and West 31st Street.

TH Real Estate’s Nadir Settles says, “TH Real Estate purchased this property with the intention of redeveloping an underutilized asset into a Class A asset with amenities. WeWork’s creative concept attracts high level tenants, and we look forward to extending our relationship with them through this lease.”

The Midtown West asset sits within close proximity to Penn Station, Hudson Yards, and Chelsea neighborhoods, allowing easy access to transportation hubs and West Side housing and retail areas.

JLL brokered the deal.

 


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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