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Spectrum Reach Signs 11-Year Lease for New HQ at 3 Times Square

Spectrum Reach has struck a deal with Rudin to secure a roughly 11-year lease at 3 Times Square in Midtown, Manhattan.

This will give the advertising sales unit of Charter Communications 55,848 square feet of space, which takes up the full 26th and 27th floors. And it will become Spectrum Reach's new headquarters, as it will relocate from its 1633 Broadway office location, which is set to take place during the fall.

“We are pleased to welcome Spectrum Reach to 3 Times Square’s impressive roster of companies and institutions, who have been attracted to the tower’s upgrades, expanded amenity program and prime Midtown location,” Michael Rudin, Co-CEO of Rudin, said in a statement.

“It is fitting that we kick off our centennial year with an agreement that is emblematic of Rudin’s commitment to cultivating best-in-class environments for our customers.”

In total, 3 Times Square spans 925,000 square feet. The 30-story tower was first built in 2001 and is known as the Thomson Reuters Building. In 2020, Reuters and joint venture partner Rudin redeveloped the property, which now includes a triple-height lobby with glass walls, and a sculptural façade screen. Plus, the tower includes other amenities such as a dining area, coffee bar, conference and event center, a fitness center, and a touchless entry system.

Along with Reuters, some other brands in the building include Remy Cointreau and Anchin.

When compared to other markets, New York City is seeing a resilient office recovery from the pandemic lows. In fact, Neil Gupta, president and chief investment officer of Rudin said at CREtech New York 2024 in November that some of the buildings in the firm's portfolio had occupancy that was above pre-pandemic levels.

In Manhattan, Rudin manages 12 other office properties, according to its portfolio. Plus, it has one in Brooklyn.

On the 3 Times Square lease, Spectrum Reach was represented by CBRE, while ownership received backing from Cushman & Wakefield and some self-representation from Rudin.

Reprinted with permission from the Thursday, 30 January 2025 05:56:00 EST online edition of GlobeSt © 2025 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or reprints@alm.com.