Logistics real estate giant Prologis has signed a deal to expand at SL Green Realty Corp.’s 461 Fifth Ave., increasing its footprint from 6,900 square feet to 23,000 square feet across two floors. The company was able to take advantage of approximately 23,000 square feet worth of sublease space from an existing tenant vacating the building.
Cushman & Wakefield’s Jason Kroeger, Pierce Hance and JP Southren represented Prologis in lease negotiations. The landlord was represented in-house.
“This lease renewal and expansion is emblematic of what forward-thinking businesses are doing to position themselves in competitive markets like NYC, which continues to see strong demand and low availability of Class A space,” said Kroeger. “This expansion was achieved through creative deal-making between the Prologis and SL Green leasing teams, enabling the agreement to extend past the sublease expiration, positioning Prologis for long-term growth at the building.”
In addition to anchoring regional growth, the NYC office also plays a strategic role in supporting Prologis’ global employee network, serving as a hub for collaboration and connectivity across international teams.
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