Flexibility, a hallmark of the W&H Properties brand, doesn't refer only to a style of management or negotiations. It also refers to the range of opportunities within a building.

3 Herald Square (also known as 1333 Broadway), which joined the portfolio a little more than a year ago, exemplifies this: Its availabilities are wide ranging, including large blocks of multiple floors, full floors, partial floors and smaller pre-built spaces.

3 Herald Square (1333 Broadway)

Different Tenants, Different Needs

"Our tenants share key characteristics," says Jonathan Fanuzzi of Newmark Knight Frank, the property's managing and leasing agent. "They are credit-worthy firms who are prominent in their industries and who seek a fully transformed property in an unbeatable, vibrant 24/7 location. But their space needs vary significantly in terms of size and configuration. Fortunately, the property can accommodate them all."

Insurance giant Aetna (NYSE: AET), the building's first major office tenant, had space needs on the larger end of the spectrum. Its lease encompasses 40,000 square feet on two floors in the base of the building.

There is still room for other new tenants, however: 140,000 square feet is available at the property, including full floors and partial floors of 10-20,000 square feet, along with a number of W&H signature pre-builts. "We invite brokers and prospective tenants to challenge us with any space requirement," says Mr. Fanuzzi. "Chances are, we will find a way to fulfill them."

Retail Availability

And if you're looking for space to house a big-box retailer, you're in luck. There is approximately 67,900 square feet of highly visible retail space available that is next door to Macy's flagship location. This outstanding block, located on the ground, second and lower levels, contains an amazing 500 feet of wraparound frontage.

"There's a lot of interest in this space," notes Andrew Goldberg of CB Richard Ellis, the retail leasing agent for the property. "Retailers recognize the immense benefits of this 24/7 location with its exceptional visibility – adjacent to Macy's, the world's largest department store."

Improvements in the Works

Whether you seek office or retail space, one thing is clear: It's a good time to become a tenant at 3 Herald Square, now that the building is undergoing a massive $71 million in improvements, including a new building entrance and lobby; new restrooms, windows, passenger and freight elevators - including the addition of two new passenger elevators; renovated air-conditioned public corridors; building-wide system upgrades, including electrical, plumbing, HVAC and security; and a new roof.

Furthermore, the convenience of the location is a major benefit to tenants' employees. It offers easy access to Penn Station (especially now that there is a proposed new underground 34th Street entrance on Broadway/Sixth Avenue), the Long Island Rail Road, New Jersey Transit, Amtrak, the Port Authority Terminal, PATH and fifteen subway lines. "If you want to attract staff with the promise of major transportation practically on the doorstep, it's hard to find a better place to do so," Mr. Fanuzzi points out.

Would you like to find out more about the leasing opportunities at 3 Herald Square? Please contact Mr. Fanuzzi at 212-372-2084 (jfanuzzi@newmarkkf.com) regarding office space or Mr. Goldberg at 212-984-8155 (andrew.goldberg@cbre.com) regarding retail space. Thank you for giving us the chance to compete for your business. Call today!