Proskauer Takes 406,000 SF in Relocation

NEW YORK CITY-SJP Properties and law firm Proskaeur Rose made Monday’s reports official on Tuesday with a formal announcement of a 406,000-square-foot, 20-year lease at 11 Times Square, about 25,000 square feet larger than initially reported. The deal for 14 floors of the 1.1-million-square-foot tower, which is scheduled for completion next month, is the first one signed there and is believed to be the largest Midtown office relocation in more than two years.

“Proskauer is the type of world-class tenant we specifically targeted for this building, and we are extremely confident that the firm’s move to high-performance new construction will offer both immediate and long-term benefits,” SJP CEO Steven J. Pozycki says in a release. The 40-story property is aiming for LEED Gold certification.