LB Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, has signed a new lease at PENN 1, a 55-story tower in New York’s PENN DISTRICT that was redeveloped by Vornado Realty Trust. The move will see LB Pharma relocate from their current location on Madison Ave to an 8,906 square foot space on the tenth floor of PENN 1 by Q3 of 2024. This prime location offers direct access to Penn Station and Moynihan Train Hall.
JLL’s Thomas Burrus represented LB Pharma in securing the new lease while Vornado Realty Trust was represented in-house by Josh Glick, Jared Silverman, Anthony Cugini and Jordan Donohue. According to Burrus, “Vornado has created an exceptional office environment that prioritizes self-care as part of work life and LB Pharma was immediately drawn to this comprehensive offering which is unmatched in the city.”
PENN 1 boasts over two million square feet with state-of-the-art WorkLife amenities including dining options,lounges,flexible office spaces,a fitness center,and onsite healthcare facilities.
This latest development marks yet another successful relocation for Connect CRE’s client,LB Pharmaceuticals Inc.,as they continue their growth trajectory within New York City.
