GTT Communications Expands to 19,500 Square Feet at One Penn Plaza

25 October 2017

Savills Studley, the leading commercial real estate advisory firm specializing in tenant representation, announced that it has negotiated an expansion for GTT Communications, Inc. (GTT) at One Penn Plaza, owned by Vornado Realty Trust.

 

Recently valued at $1 billion, GTT is a publicly traded global telecommunications company with their headquarters in McLean, Virginia, and 15 additional offices around the world.

 

In February 2017, GTT signed a lease to move from a 5,000-square-foot office at 1270 Broadway to an 11,400-square-foot office on the 10th floor of One Penn Plaza. Just six months later following continued growth through several acquisitions, the firm has expanded its lease to 19,500 square feet, effectively quadrupling its New York City footprint since the beginning of the year.

 

Savills Studley Managing Director Christopher Foerch represented GTT in the transaction alongside colleagues Executive Managing Director Jeffrey Peck and Executive Vice President Daniel Horowitz, while Jared Silverman and Josh Glick represented landlord Vornado in house.

 

“GTT’s recent acquisitions added significant headcount to their New York office, and expanding into additional, contiguous space was the best solution for the growing company to maintain and enhance their collaborative culture,” said Foerch.

 

About Savills Studley

Savills Studley is the leading commercial real estate advisory firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive platform includes brokerage, project management, capital markets, consulting and corporate services. With 31 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

 

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 33,000 professionals and over 180 commercial offices around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

 
 

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Savills Studley - New York

 

Key Contacts

Molly Ferrer

Molly Ferrer

Public Relations Manager

Savills Studley - New York

+1 212 326-1024