There’s life within the Times Square office market despite recent exits of several large tenants. Trend-setting lab-made jewelry chain Pandora is moving its US headquarters from Baltimore to 1540 Broadway, the previous Bertelsmann Constructing, taking 27,936 square feet on the thirty fifth floor. The asking rent on the 15-year lease was $82 per square foot, sources said.
A source said that Pandora was drawn by sprawling views and the constructing’s lavish recent amenities center.
Not one of the brokers would comment. Clark Finney and Frank Doyle led a JLL team that represented the owner. A distinct JLL team acted for Pandora.
As we reported last spring, the 44-story tower, which is owned by Edge Fund Advisors and HSBC, secured $590 million in financing for the office floors (Vornado owns the retail space). It’s now nearly 70% leased.