LONG ISLAND CITY, NY-Nespresso USA Inc., a division of Nestlé Nespresso SA Co., has leased 15,380 sf of class A office space at Court Square Place here. The Nestle business unit will establish offices for its Relationship Center on the entire 12th floor of the 17-story tower.

JRT Realty serves as exclusive leasing and managing agent for Court Square Place along with Cushman & Wakefield. United Nations Federal Credit Union (UNFCU), which has its headquarters in Court Square Place, is the owner/developer of the property.

John Adams Associates represented Nespresso USA Inc. Greg Smith, JRT’s executive vice president, explains that Court Square Place’s strategic location and well-appointed space have enormous appeal to tenants. “The Court Square Place tower offers commanding views of Manhattan, high-tech office space companies’ need, and amenities employees seek,” he notes.

“Nespresso was attracted to this space because it is Long Island City’s newest building, it’s a class A product, it’s a trophy building with large open floors and unobstructed views of Manhattan,” Smith tells GlobeSt.com.

He continues to explain that the company will retail operations in Midtown and the site is only three minutes away from Manhattan by subway. “The price is a third the cost of Midtown,” Smith notes. Although he could not disclose the actual price per sf, he says that asking rents in the building are $42 per sf, but that comparable spaces in Midtown are $100 per sf.

Located at 24-01 44th Rd., one block from the Citicorp Tower, Court Square Place includes 274,000 sf of prime corporate office space. It is the tallest office building in 16 years to rise in Long Island City according to a release by JRT. UNFCU, New York City’s largest credit union, occupies the first seven floors of the building.

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