Global corporate services provider and technology and travel management giant Hogg Robinson Group has signed a five-year lease for a 6,035-square-foot full-floor space at 292 Madison Avenue. Located on the 17th floor, the already built-out offices feature open layouts that accentuate the high ceilings and oversized windows, contemporary lighting, new kitchens and bathrooms and finely polished, scarified cement floors. The space was formerly occupied by e-commerce firm Borderfree, which has since expanded and relocated to the third, fourth and fifth floors of the TAMI corridor building.
Representing the landlord Marciano Investment Group was the Cushman & Wakefield team of Harry F. Blair, Executive Director, and Sean N. Kearns, Executive Director. Representing the tenant were Newmark Grubb Knight Frank’s Ross Perlman, Executive Director, Lee Brodsky, Managing Director, and Ryan Mandrell, Associate.
“Hogg Robinson is a major international player with a significant technology division, which makes 292 Madison Avenue an excellent fit on so many levels,” points out Mr. Blair. “In addition to being centrally located, this building has become a center for several TAMI tenants in recent years.”
Asset manager Herald Square Properties oversees the property on behalf of landlord Marciano Investment Group. Building management is provided by CBRE.
Adds Herald Square Properties’ Gerard Nocera, “Many of the technology-based firms here are multi-national and their offices at 292 Madison Avenue serve as U.S. or New York headquarters.”
In addition to Borderfree, other TAMI tenants in the building include Raptor Trading, IDG, Exponential Interactive, Qlik and ZEFR. Between 2013 and 2014, the Marciano Investment Group, with Herald Square Properties, implemented a successful Mufson Partnership-designed pre-built program to attract technology-based, full-floor tenants. Last year, a striking façade renovation was completed, which included the restoration of Art Deco architectural sculptures above the facades. It maximized the building’s street presence and sight lines along Madison Avenue and brought a national brand to the ground level retail portion, CVS. The vision of ownership at 292 Madison Avenue has pivoted it into a fully modernized office tower for the future, while paying homage to its rich architectural history.
