Regus Regus renews lease at Penn Plaza in New York City
Abstract: Flexible workspace provider Regus has renewed its lease on the 60,000 sq ft Penn Plaza building in New York, ensuring its tenancy for the next 10 years. The firm currently occupies the 19th and 23rd floors of the 26-story building. Regus paid $68 per sq ft in rent, according to Commercial Observer.

Global office provider Regus plans to stay at 5 Penn Plaza for at least the next decade.

Regus renewed its lease at the 26-story building, where the company occupies 60,000 square feet across the entire 19th and 23rd floors, the Commercial Observer reported. The asking rent for the space was $68 per square foot.

CBRE’s Peter Turchin, along with Jason Pollen, Dave Caperna and Hilary Whittier, represented landlord Haymes Investment Company in the deal. JLL’s Jim Wenk and Transwestern’s Patrick Heeg (formerly of JLL) represented Regus.

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In May, health care tech firm Remedy Partners signed a lease for 28,640 square feet of pre-built space at 5 Penn Plaza. Haymes received a $300 million CMBS loan from Citigroup for the 631,000-square-foot property last year.

In July, Regus announced that it would open its co-working concept Spaces at RXR Realty’s Helmsley Building. Spaces already has 35 locations worldwide and another 28 set to open in the near future. [CO] — Kathryn Brenzel