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Exclusive: Regus to Occupy 50K (thepoliticker.observer)

****The office suite firm **Regus **is taking two floors totaling about 50,000
square feet at** 112 West 34th Street**, _The Commercial Observer_ has
learned.

Even more temporary office space to come. (Courtesy Property Shark)

The firm will be relocating from **11 Penn Plaza**, where the retailing giant
**Macy’s **is expanding into the space it will leave behind. Regus will take
floors 17-18 at 112 West 34th Street, a 26-story, 770,000-square-foot asset
owned by **Malkin Properties**. The firm has committed to the spaces--at
28,000 and 23,000 square feet respectively--for 15 years. Rents start in the
mid $40s per square foot. A spokesman for Regus confirmed the deal and said
that 112 West 34th Street was an ideal location because it was nearby its
offices at 11 Penn Plaza, making the move more convenient for its tenants
while remaining close to Penn Station, a central transit hub. “We want to
retain as many tenants as possible in the move and stay close to Penn,” the
spokesman said. “The 11 Penn location is almost fully leased.” Regus rents
offices and then partitions the space for smaller users such as start up
companies or even individuals who would like to ...

thepoliticker.observer

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