Nasdaq to Move Global Headquarters to Times Square
John Jordan | February 9, 2018
NEW YORK CITY—Nasdaq reports it is relocating its global headquarters from Downtown Manhattan at One Liberty Plaza to its current Nasdaq MarketSite location at 4 Times Square.
The stock exchange operator signed a 15-year, 145,000-square-foot lease at the 48-story, 1.8-million-square-foot tower building owned by the Durst Organization.
The 10th floor will be home to a state-of-the-art event space as an extension of the Nasdaq MarketSite and will feature a 2,100 square foot outdoor terrace overlooking Times Square, above the Nasdaq Tower. The outdoor space will be for Nasdaq clients and prospects with the capacity to host more than 400 people for corporate events.
The 15-year lease for 145,000 square feet includes an extension of the current 24,000-square-foot MarketSite lease at the building.
“Since our beginning, Nasdaq has played a major role in the growth of corporate America by providing a seamless platform to raise capital through the public markets. Throughout the decades, we have expanded our business and brand globally and our technology now powers more than 90 marketplaces around the world,” said Adena Friedman, president and CEO, Nasdaq. “Bringing together our New York employees at our new headquarters allows us to continue to focus on the client experience and further collaborate as a team on new and innovative solutions that meet our clients` most critical needs. This increased presence in the iconic Times Square, New York, will further drive our brand forward, and will offer an unparalleled experience for our clients for years to come.”
“As one of the building`s original tenants when it opened in 1999, we are pleased Nasdaq has chosen to consolidate their corporate headquarters, and bring their leadership team, to 4 Times Square,” said Jonathan (Jody) Durst, president of The Durst Organization. “Nasdaq is one of the world`s most innovative and dynamic exchanges and a recognized global leader in financial technology, and we are excited they have decided to continue to partner with us and grow their business for the 21st Century at 4 Times Square.”
The three-year MarketSite expansion and relocation initiative will commence construction this summer and is slated for completion in December 2021, with phased move-ins beginning in spring 2019.
4 Times Square has recently undergone a $140-million capital improvement program. The 45,600 square foot amenity floor, featuring a café and coffee bar run by Michelin Star Chef Claus Meyer and first-class conference, meeting and event spaces managed by Convene, will open to tenants and guests later this year.
Other major tenants at the property include: Skadden, Arps, Slate, Meagher & Flom LLP, the H&M Flagship Store, SS & C Technologies, Inc., ICAP, RSM, NEX and Fross Zelnick Lehrman & Zissu, PC.
Editor, Real Estate In-Depth