Cushman & Wakefield announced today that Bloomsbury Publishing Inc, the U.S. subsidiary of Bloomsbury Publishing Plc., a leading independent, worldwide publisher of fiction and non-fiction works, has signed a long-term lease at 1385 Broadway, a midtown Manhattan office building that recently completed a $55 million major capital improvement and renovation program.
Cushman & Wakefield's Jonathan R. Serko, vice chairman, Gary Greenspan, vice chairman, Diana Gaines, senior director, and David Malawer, senior director serve as the exclusive leasing agents for the building, which is owned by B. Bros. Broadway Realty LLC, an affiliate of Bloomingdale Properties Inc. With the Bloomsbury deal completed, the Cushman & Wakefield team has leased more than 425,000 square feet, bringing the building's occupancy to more than 90%. Bloomsbury was represented by Leon Manoff of Colliers.
"1385 Broadway is a superior asset and is being pursued by a diverse, multi-discipline tenancy with a common objective," said Mr. Serko. "These tenants are seeking premier office space in a building with a strong and reputable ownership in an ever-tightening market, and they have found it here, at 1385 Broadway. We are so pleased to have Bloomsbury join our prestigious tenant roster."
Bloomsbury, British publisher of J.K. Rowling's Harry Potter series, is moving from The Flatiron Building at 175 Fifth Avenue to occupy the entire 5th floor for a total of 23,500 square feet at 1385 Broadway.
Mr. Serko added, "Bloomsbury represents the latest in a series of technology, media and well-established service firms and corporations that have migrated to 1385 Broadway."
These tenants include the recently announced leases with the fast growing internet retailer ideeli and internet telecommunications firm ShoreTel as well as Richline, a Berkshire Hathaway subsidiary, AmorePacific, a global cosmetic and beauty care company and Dattner Architects, a leading civic architecture firm, among others.
The submarket long referred to as the Garment Center has been increasingly attracting office tenants that traditionally gravitated towards Midtown South in the Flatiron and Chelsea submarkets.
Located between 37th and 38th Streets, just west of Avenue of the Americas, 1385 Broadway is a quick walk to Grand Central, Penn Station and the Port Authority Bus Terminal, as well as many major subway lines.