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NEW YORK CITY-Columbus, OH-based Limited Brands is pushing five Manhattan offices into one with its newly minted lease at 1740 Broadway. The deal, which calls for 320,051 sf, will also bump its available space from its current 270,000 feet scattered throughout the current addresses. It’s expected to close late next year. Limited is parent of the Victoria’s Secret, Bath & Body Works and Express retail chains.

Neither building owner Vornado Realty Trust nor CB Richard Ellis, which tenant-repped the deal, would comment on the specifics of the lease. But in a statement, the retailer cited improved operational efficiencies as the driver behind the consolidation.

According to Cushman & Wakefield statistics, the lease rates for the deal were upward of $58 per foot, the building’s ask for smaller blocks of space. Class A comps in that section of town can range up to $70 per foot for larger blocks of contiguous space. Calls to confirm that price with Limited were not returned by press time.

According to Mr. Office Space, the circa-1950 building offers a total of 605,000 feet and includes the New York State Department of Taxation and Finance in its roster. Citibank also has a retail branch in the building.

Mary Ann Tighe, Eric Deutsch, Ken Meyerson, Jason Pollen and Harborne Stuart formed the CBRE team on the deal, while Glen Weiss and David Green were Vornado’s in-house team. Vornado’s legal counsel was Audrey Bender and Ronald Sernau of Proskauer Rose LLP, and Limited was represented by Jonathan Bright and Jeffrey Samuels of Siller Wilk LLP.

“When we started the process six months ago, it was a very different real estate market,” says Tighe. “With leases expiring over the next few years in multiple locations, a consolidation seemed warranted; however as the market tightened, we were working against the clock to meet the company’s requirements.”

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