Security Solutions Provider Signs 12-year Lease Extension for 16,637 SF
GFP Real Estate, LLC is pleased to announce that Excel Security Corp., a leading provider of security solutions, has signed a new 12-year lease extension and expansion for a total of 16,537 square feet at 505 Eighth Ave.
Allen Gurevich of GFP Real Estate represented the landlord and the tenant in the direct lease transaction.
“We are thrilled to continue our long-standing relationship with Excel Security Corp.—which also handles security for GFP’s entire portfolio—and support their growth within 505 Eighth Ave.,” said Gurevich.
Excel Security Corp. first moved into the building in 1994. The company, which previously had 10,260 square feet at the building comprising 4,137 square feet on the seventh floor and 6,023 square feet on the 17th floor, respectively, has taken the entire 15th floor (12,400 square feet) as part of the expansion; Excel Security Corp. will vacate the 17th floor space is currently occupies following a build-out of the new space.
505 Eighth Ave., originally known as the Hoover Building, was built in 1926 by the architect Chester James Storm. The 25-story, 275,000-square-foot building features a modernized, 24/7 attended lobby and offers keycard access for convenient and secure access.
Situated on the Northwest corner of Eighth Ave. and 35th St., 505 Eighth Ave. is located one block away from Penn Station, with links to the A, C, E, 1, 2, and 3 subway lines, NJ Transit Trains, LIRR and Amtrak. Additionally, only a few blocks away are links to the B, D, F, M, N, Q, R, W subway lines which complement the already easy commute to and from the building.
About GFP Real Estate, LLC
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York metropolitan area. With over 57 buildings and more than 13.8 million square feet under ownership, GFPRE’s portfolio includes some of New York’s most iconic real estate assets.
