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NEW YORK CITY - ReachLocal, Inc., a global leader in local online marketing and the 39th fastest-growing private company in America in 2009, according to Inc. magazine, has leased 12,000 square feet on the ninth floor at W&H Properties' 112 West 34th Street, announces Fred C. Posniak, senior vice president of W&H.
The firm will move from 10 East 33rd Street into its new space in December.
"112 West 34th Street has been attracting more and more technology and media firms, which appreciate the property's recent transformation into a modern, professional environment following an $80 million upgrade program, along with its unsurpassed location, within steps to Penn Station and close to Grand Central Terminal and the Port Authority," says Mr. Posniak.
ReachLocal connects advertisers, publishers and creative solutions providers together on one platform. Wherever customers are online, ReachLocal helps businesses find them with the broadest reach of local digital media, a dedicated force of local Internet Marketing Consultants, and technology that continually optimizes results.
Founded in 2004, ReachLocal is backed by funding from VantagePoint Venture Partners, Rho Ventures and Galleon Special Opportunities Partners Fund LP, and is led by Zorik Gordon, its co-founder and Chief Executive Officer. Headquartered in Woodland Hills, California, the company has over 800 employees operating in more than 38 offices in the United States, Australia, Canada and the United Kingdom.
Erik Schmall of Studley represented ReachLocal in the lease negotiations. Barry Zeller and Audrey Coe of Cushman & Wakefield, the property's managing and leasing agent, represented the landlord.
Located across from Macy's flagship location, 112 West 34th Street contains 26 stories, and more than 800,000 square feet of modern office and showroom spaces. 112 offers exceptional access to the Long Island Rail Road, New Jersey Transit and Amtrak at Penn Station, the Port Authority Terminal, PATH, 15 subway lines and all major bus lines.
The property recently completed a top-to-bottom $80 million upgrade program that includes a sleek, new modern and energy-efficient glass curtain wall; a renovated stone and marble lobby, which features a 30-foot undulating ceiling, state-of-the-art security desk with concierge services, and new entryways at both 34th and 33rd Streets; and renovated restrooms and air-conditioned public corridors and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of the W&H Properties Pre-War Trophy office portfolio, the building is owned by 112 West 34th Street Associates, L.L.C, a partnership led by Peter L. Malkin and Anthony E. Malkin, one of New York City's most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.
Availabilities at the property include spaces ready for immediate occupancy from 1,500 square feet, W&H portfolio standard high-end pre-built units ranging from 4,176 to 7,600 square feet, and build-to-suit partial and full floors from 20,000 to 41,000 square feet.
Broker commissions are paid in full at lease signing.
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