New York City – Colliers International has arranged a 12,200-square-foot transaction at 2 Penn Plaza on behalf of Marks Paneth & Shron LLP, which sublet its space on the fourth floor to Jacobs Engineering Group Inc.
MP&S is a leading, regional professional services firm providing public and private businesses with a wide range of auditing, accounting, tax, consulting, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients.
Accounting firm Rosenberg, Neuwirth & Kuchner had been occupying fourth floor space at 2 Penn Plaza. MP&S acquired the firm, and then relocated the newly acquired team to its corporate headquarters at 685 Third Avenue. MP&S then sublet the 2 Penn Plaza space — which became redundant — to Jacobs Engineering.
“Marks Paneth & Shron is in growth mode, and through more efficient use of its existing space, was able to consolidate its footprint,” said Ted Rotante, an Executive Managing Director with Colliers International, who represented MP&S in the sublease transaction.
Jacobs Engineering Group is a professional technical services provider offering full-spectrum support to industrial, commercial, and government clients across multiple markets. Services include scientific and specialty consulting as well as all aspects of engineering,, operations, and maintenance.
Owned by Vornado Realty Trust, 2 Penn Plaza is a 32-story, 1,546,000-square-foot office tower in Midtown Manhattan on the West side of Seventh Avenue between 31st and 33rd Street, steps away from Penn Station and Madison Square Garden. The building is close to popular hotels, restaurants, attractions and shopping, with easy access to multiple bus and subway lines.
Michael Burlant, of Cushman & Wakefield, represented Jacobs Engineering Group in the transaction.
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions,, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.