Tower 45 Signs Leases with Opti Capital and Tibco
Kamber ’s Midtown West Tower at 120 W. 45th St. agrees to three- and five-year lease terms.
NEW YORK CITY—Kamber Management Company has signed approximately 15,000 square feet of office space at Tower 45, located in Times Square at 120 W. 45th St. between Broadway and Sixth Avenue. Asking rent was $78 per square foot.
Opti Capital Management, a startup hedge fund, has signed a three-year lease for 2,105 square feet on the 30th floor.
Tibco, a software company with offices around the world and headquarters in Palo Alto, CA, renewed its five-year lease. The tech company that targets digital businesses will continue to cccupy the entire 18th floor, totaling 12,919 square feet.
Jasmin Ji at Compass represented Opti. Jamie Kacher at Cushman and Wakefield represented Tibco. Mitti Liebersohn of Avison Young and Steven Levy of Kamber Management Company represented the owner.
Current tenants in the building include hedge fund StackLine Partners, a platform for hedge fund managers Horton Point, data solutions firm Sentinel Critical Operations, molecular simulations and software firm Schrodinger, global valuation and investment banking firm Stout Risius Ross, law firm Donohoe Talbert, and Coleman Research Group.
Kamber acquired 120 W. 45th St. in September 2015 from SL Green for $365 million. The 40-story, 458,446 square-foot office property was originally built in 1985. Kamber invested in a multimillion-dollar capital improvements program that will upgrade the infrastructure, common areas, atrium and lobby. It hired the architecture firm Pei Cobb Freed & Partners for specific design projects.
The building has customized pre-built spaces ranging from 1,500 to 6,500 square feet. There are full floors of approximately 10,000 to 13,000 square feet, currently vacant and seeking tenants.