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NEW YORK CITY-Corbis, a licensed photography and visual media provider owned by Microsoft founder Bill Gates, has taken the entire fourth floor of 250 Hudson St. The company plans to move into the 27,000-square-foot space this summer.

Jonathan Resnick, president of building owner Jack Resnick & Sons, says in a release that the deal “says a lot about the growing popularity and viability of the Hudson Square neighborhood.” The area has become a magnet for media companies in the past couple of years, as former industrial buildings such as 250 Hudson are repositioned into office space.

In the case of 250 Hudson–a 15-story, 360,000-square-foot property that formerly housed printing presses–the repositioning is taking the form of a $25-million capital improvement program. It features an expanded lobby with marble walls and terrazzo floors to access the new elevator bank with three additional cabs, and an extensive upgrade of the building’s infrastructure. The upgrade includes the installation of a new 1,200-ton cooling tower and a 10,000-square-foot landscaped roof deck available to tenants.

Media tenants who preceded Corbis at the repositioned 250 Hudson include public relations firm Daniel J. Edelman, Inc., which took 127,000 square feet in December 2007; and advertising agency Lowe & Partners, which signed on for 40,000 square feet last September. Lieff Cabraser Heimann & Bernstein, a law firm, relocated from Midtown into a full floor of 27,000 square feet last May. Asking rents at the property, which currently has three floors are in the mid $40s per square foot.

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