{"id":1004199287,"date":"2017-12-05T13:26:30","date_gmt":"2017-12-05T21:26:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199287"},"modified":"2018-10-15T04:10:01","modified_gmt":"2018-10-15T12:10:01","slug":"wework-signs-45-ksf-lease-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wework-signs-45-ksf-lease-in-manhattan\/","title":{"rendered":"WeWork Signs 45 KSF Lease in Manhattan"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004199299\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004199299\" data-attachment-id=\"1004199299\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wework-signs-45-ksf-lease-in-manhattan\/picture_119-125-west-25th-street_new-york_copyright-afiaa\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;1.9&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;SM-G920T&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1479897209&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.3&quot;,&quot;iso&quot;:&quot;64&quot;,&quot;shutter_speed&quot;:&quot;0.0083333333333333&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"119-125 W. 25th St., New York City\" data-image-description=\"&lt;p&gt;119-125 W. 25th St., New York City&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;119-125 W. 25th St., New York City&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg?w=1000\" class=\"wp-image-1004199299 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg\" alt=\"119-125 W. 25th St., New York City\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Picture_119-125-West-25th-Street_New-York_copyright-AFIAA.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199299\" class=\"wp-caption-text\">119-125 W. 25th St., New York City<\/p><\/div>\n<p>Swiss pension fund AFIAA has signed a 15-year lease with WeWork at one of its office buildings in Manhattan. The tenant will occupy 45,000 square feet of space, bringing the asset\u2019s office occupancy rate to 100 percent.<\/p>\n<p>The 12-story property totals 138,021 square feet and is located at 125 W. 25th St. It was built in 1906 and underwent a $20 million renovation before&nbsp;AFIAA acquired it from a partnership between Normandy Real Estate Partners, Waterbridge Capital&nbsp;and<strong>&nbsp;<\/strong>NTT Urban Development&nbsp;at the end of 2016 for $150 million. Following an effective marketing strategy, the occupancy level went up from 38 to 90 percent in less than a year. The property is anchored by fitness company&nbsp;Peloton Interactive. Other tenants include&nbsp;Mohawk Carpet Distribution Inc., which signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/afiaa-inks-first-lease-at-125-w-25th-st\/\">10-year lease<\/a> this April.<\/p>\n<p>Located in the borough\u2019s vibrant Chelsea neighborhood, the asset is&nbsp;close to&nbsp;retailers and eateries, as well as landmarks such as the Empire State Building and Madison Square Garden. Additionally, various transportation options provide tenants with easy access throughout the entire area.<\/p>\n<p>\u201c<em>We have now kept our promise and created an attractive product for our institutional investors through active asset management<\/em>,\u201d AFIAA CEO Ingo Bofinger said in a prepared statement.<\/p>\n<p>Cushman &amp; Wakefield represented both parties in the lease transaction.<\/p>\n<p><em>Image courtesy of AFIAA<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiss pension fund AFIAA has reached full occupancy at 125 W. 25th St., a Manhattan office property the firm acquired last year for $150 million. <\/p>\n","protected":false},"author":241,"featured_media":1004199299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[35129,42461,32799,33678],"class_list":["post-1004199287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-afiaa-foundation","tag-coworking","tag-cushman-wakefield","tag-wework"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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