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Nestle’s Nespresso Opens Office in Manhattan

| Commercial Real Estate News, Leasing, Office| Views: 129


Nespresso, a Nestle brand, is going to open a new office in Manhattan—more precisely, in the Chelsea neighborhood.

111 West 33Rd Street, New York (Yardi Matrix)

The luxury coffee and espresso machines provider has signed a 41,800-square-foot lease at Empire State Realty Trust’s 111 West 33rd St. office tower. Nestle’s operating unit will occupy the entire 5th floor of the 26-story high-rise.

The historic property has been recently modernized for the 21st century and features an outdoor terrace, a renovated lobby, and upgraded elevators. Tenants can access the building through two entryways, one located on 33rd Street and the other on 34th Street.

The glass-clad tower currently houses 26 other companies active in a variety of fields, such as advertising, biotechnology, marketing, tourism, and non-profit. The building is popular among high-profile companies, with notable tenants including The Michael J. Fox Foundation, American Urban Radio Networks, Regus, Warschawski, The Bridgespan Group, Shermans Travel, Carr, Macy’s, and MSG—per Yardi Matrix data. The retail space is anchored by Target, which is surrounded by three other popular retailers: Sephora, Foot Locker, and Hour Passion.

Formerly known as the Kratter Building, the Class A mixed-use tower originally completed in 1954 was completely renovated in 2010. The high-rise encompasses 717,076 square feet of space, including 89,529 square feet of retail. The transit-oriented property located in the bustling Chelsea submarket provides easy access to two public transportation stations.

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