**Universal Music Group Leases 88,000 SF at Vornado’s Redeveloped PENN 2**
Universal Music Group (UMG) has signed a 22-year lease for 88,000 square feet at Vornado Realty Trust’s newly redeveloped PENN 2 building in New York City. UMG will occupy the entire fourth through seventh floors of the property.
The building will house the headquarters for several of UMG’s iconic labels, including Def Jam Recordings, Island Records, Mercury Records, Republic Records, Bravado, and Verve Label Group. It will also serve as the East Coast offices for Universal Music Publishing Group, along with other UMG corporate operations.
Glen Weiss, Executive Vice President of Office Leasing and Co-Head of Real Estate at Vornado, commented on the deal:
“We are delighted to welcome Universal Music Group to THE PENN DISTRICT, which has firmly established itself as the epicenter of Manhattan’s new West Side. Universal Music’s commitment to PENN 2 is further evidence of the district’s appeal to the world’s most iconic brands in business, lifestyle, and entertainment.”
This lease marks another significant milestone in the transformation of the Penn District into a premier destination for global industry leaders.
