NEW YORK CITY-TransPerfect Translations, a translation services firm which is headquartered here, has renewed and restructured its lease at 3 Park Ave. The company renewed its 24,000-sf lease for part of the 39th floor, and will relocate to part of the 38th floor in the 41-story office in Murray Hill. The lease length is for more than six years and the company does have additional expansion rights. No other information about the transaction was released.

Cushman & Wakefield senior directors Michael Burlant and Dale Schlather represented TransPerfec. The landlord, Cohen Brothers Realty, was repped in-house by David Nevins and Mikael Nahmias.

The lease was restructured in order to bring employees onto two contiguous floors with an interconnecting staircase. (Previously, the firm occupied space on the 28th and 39th floors.) “TransPerfect wanted its corporate headquarters on contiguous floors for all of the benefits and efficiencies that it affords,” points out Liz Elting, CEO of TransPerfect. Burlant notes that TransPerfect has grown its headquarters from 4,000 sf in the 675,000-sf building located between 33rd and 34th streets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.