Salesforce Inks 34 KSF Sublease in Midtown Manhattan

3 Bryant Park. Image courtesy of CommercialEdge

Property technology company VTS has signed a six-year lease agreement for 34,325 square feet at 3 Bryant Park in Manhattan, subletting the space from Salesforce. The tenant will relocate its headquarters from 141 W. 41st St., planning to complete the transition by the fourth quarter of 2023.

VTS will occupy the entire 14th floor at the location. A team of brokers from Savills, Transwestern and JLL represented the new tenant, while CBRE brokered the deal on behalf of Salesforce.

Ivanhoé Cambridge owns the 1.2 million-square-foot building since 2015, when it purchased the property for $2.2 billion, with the involvement of a $1.1 billion loan from Wells Fargo, CommercialEdge data shows.

Other tenants at the 3 Bryant Park include Stifel, Apollo, MetLife, U.S. Bank and China Construction Bank, according to the same data provider. Completed in 1972, the 42-story tower features 35,600-square-foot floor plates and comprises 105,658 square feet of retail space.

Savills Vice Chairman & Director James Wenk represented VTS, in collaboration with co-brokers Transwestern Partner Patrick Heeg and JLL Executive Managing Director Sam Seiler. CBRE’s Senior Vice Presidents Alice Fair and James Ackerson, along with Vice Chairman Sacha Zarba worked on behalf of Salesforce.

In the heart of New York City

Located at 1095 Avenue Of The Americas, the Midtown Manhattan building sits less than a mile from both the Empire State Building and the Rockefeller Center. It is also adjacent to Bryant Park and within walking distance of the New York Public Library and Times Square.

In prepared remarks, Wenk mentioned that the tenant capitalized on New York City’s market conditions to secure an advantageous package. VTS CEO Nick Romito emphasized the company’s commitment to the metro and the need for more ample space as the firm has more than doubled its employee count since its pre-pandemic numbers.