Understanding that 2016 was one of the slowest years in tech IPO’s, 2017’s outlook is far brighter. Snap Inc., the parent company of Snapchat, is expected to IPO as early as March 2017, which will likely result in a pissing contest between companies battling for superior valuations. Snapchat recently expanded its presence at 229 West 43rd Street, as they’ve promised to create upwards of 400 new jobs in New York. On the other hand, WeWork has been gobbling up space all over New York City, creating launch pads for thousands of start-ups. Not every tech, advertising, media, or information (TAMI) firm, however, is as established as Snapchat or as green as many of the start-ups in WeWorks. There is an important grey area of office space demand that must not be overlooked.
Accela, Inc., a software company, is offering a unique opportunity to sublease the partial 8th floor at 276 Fifth Avenue. Measuring 2,300 rentable square feet, it was recently built with a creative installation featuring one glass-fronted conference room, an exposed pantry, an open collaborative area, hardwood floors, and exposed ceilings. With a sublease term extending through October of 2019, this is a great short-term opportunity for TAMI firms looking to maintain their flexibility. This unit is available for possession immediately and is a great starter office for companies that have graduated from shared office space but are not yet ready to commit to longer term space.
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How long does it take to lease commercial real estate in New York City? The TechOfficeSpaces.com Team is often asked how long it takes to move into new office space…
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