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While office tenants all over the country are taking up less space, one law firm is taking advantage with an expansion.
Holwell Schuster & Goldberg has agreed to a sublease of more than 59K SF at 425 Lexington Ave. from fellow law firm Simpson Thatcher & Bartlett. Simpson Thatcher is one of only two tenants at the 31-story, 750K SF tower built across from Grand Central Terminal in 1987, along with the Canadian Imperial Bank of Commerce.
HSG will be moving into the 12th, 13th and 14th floors of the building, and will be the first new user of space since 425 Lexington opened 30 years ago. The corporate and intellectual property law firm will move from its 30K SF at 750 Seventh Ave. at the end of the year.
HSG was represented by Savills Studley's L. Craig Lemle and Nick Zarnin in its search for new space, and its 16-year sublease will allow Simpson Thatcher to consolidate without having to move offices.
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