Cushman & Wakefield announced today that Infor, a leading provider of business application software serving more than 70,000 customers, has signed a long-term lease at 641 Avenue of the Americas located at the southwest corner of 20th Street, an area known as “Silicon Alley” for its high concentration of Internet and technology companies.
Infor, the world’s third largest business applications company, will occupy the entire fourth floor and part of the third floor for a total of 31,500 square feet. The lease contemplates that the tenant will grow into an additional 11,500 square feet and take the remaining space on the third floor. The new flagship location is being planned with open executive offices befitting of a large start-up, engineers specializing in graphic design and social computing, and a client reception center.
In addition, the tenant will receive building signage, which will provide prominent branding for the company.
Cushman & Wakefield, led by Bruce Mosler and Adam Rappaport represented the tenant. Peter Turchin and Gregg Rothkin of CBRE represented the landlord, Atlas Capital Group.
“Infor was very interested in the space at 641 Avenue of the Americas because it offered two contiguous floors and high ceilings in a creative neighborhood in the Chelsea market, which is located near one of New York City’s major transportation hubs,” said Bruce Mosler, chairman of global brokerage, Cushman & Wakefield.
Infor expects to have one of the largest software engineering teams in New York City and access the rich pool of technical talent in the region. The planned technology campus the city of New York is building in conjunction with major universities was also an attraction for the company. In addition, the New York location is more accessible to Infor customers for technology demonstrations.
“2011 has been a strong year for Infor, with three consecutive quarters of double-digit growth that have fueled our decision to accelerate investment in product innovation by coming to New York’s Silicon Alley,” said Charles Phillips, CEO of Infor. “This state-of-the-art facility will enable us to hire and house developers and graphic designers to enhance the user experience and integrate social applications into the work place, further advancing the speed of business for our customers. We also plan to build a customer center that showcases these innovations in an environment as compelling as the technology itself.”
641 Avenue of the Americas, an eight-story building that was built in 1920 and updated most recently in 2006, is located within walking distance of Penn Station.