**Verizon Relocates New York Headquarters to Vornado’s Penn District**
Vornado Realty Trust announced that Verizon will relocate its New York headquarters to PENN 2, part of the redeveloped Penn District campus. As part of the move, the telecommunications leader has signed a 19-year lease for 203,000 square feet of office space. In addition to serving as Verizon’s new headquarters, the location will feature a flagship retail store on Seventh Avenue.
“We are thrilled to welcome Verizon to the growing roster of world-renowned business, communications, technology, finance, and entertainment firms that have chosen the Penn District for their corporate homes,” said Glen Weiss, Executive Vice President of Office Leasing and Co-Head of Real Estate at Vornado.
PENN 2 is already home to major tenants such as Madison Square Garden, Universal Music Group, and Major League Soccer. Together with the neighboring PENN 1, the two towers form a 4.4 million-square-foot office campus in the heart of Manhattan.
The lease transaction was brokered by a Cushman & Wakefield team led by Josh N. Kuriloff, Peyton Horn, Heather Thomas, and Kyle Ernest, representing Verizon. Vornado’s in-house team—Glen Weiss, Josh Glick, Jared Silverman, and Anthony Cugini—represented the landlord.
