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A pizza delivery service provider is slicing its office footprint in half.
Slice is putting its 18,200-square-foot office at 902 Broadway up for sublease in favor of a smaller footprint at 349 Fifth Avenue, Commercial Observer has learned.
The pizzeria delivery technology firm leased 8,000 square feet at the Zar Property-owned building with an asking rent of $49 per square foot and agreed to a term of 4.5 years, according to a source familiar with the deal.
It was not immediately clear when Slice will occupy the space.
David and Julian Zar represented the landlord in-house while Michael Cohen, Michael Joseph, Aidan Campbell and Jessica Verdi of Colliers negotiated on behalf of the tenant.
Zar Property was not available for comment, and Colliers did not immediately respond to an inquiry.
The firm purchased the property from JPMorgan Chase in 2009 for $18.58 million and since then has signed leases within the 70,000-square-foot office tower to companies such as luxury Italian furniture company Giorgetti in May 2022, at which time the asking rents were around $75 per square foot, CO reported.
Prior to that, 48,000 square feet of 349 Fifth Avenue was leased to WeWork as the coworking giant’s second location. WeWork exited the building in April 2021 as the company fell upon hard times amid the ongoing pandemic and its longstanding financial woes.
Mark Hallum can be reached at mhallum@commercialobserver.com.
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