News Summary
AlphaSense, a market intelligence firm, is moving its global headquarters to Hudson Commons at 441 Ninth Avenue, signing a 10-year lease for 50,000 square feet. This expansion allows the company to grow its employee base significantly and adapt to modern workplace needs. Subleasing from Peloton, AlphaSense aims to enhance its office space with advanced technology and collaborative areas, reflecting its commitment to fostering a collaborative work culture. The move follows the recent acquisition of research provider Tegus for $930 million, solidifying AlphaSense’s role in the market intelligence sector.
New York City – AlphaSense, a market intelligence firm driven by artificial intelligence, has announced plans to relocate its global headquarters to Hudson Commons located at 441 Ninth Avenue. The company has signed a 10-year lease for a substantial 50,000 square feet of office space. This new location will allow AlphaSense to significantly expand its operations, as it currently occupies 40,000 square feet spread over three floors at its existing address at 24 Union Square East.
Under the terms of the lease agreement, AlphaSense will sublease the office space from Peloton, one of the building’s major tenants. The new headquarters will accommodate up to 300 employees, marking a 50% increase in office size compared to their previous location. While the exact moving date to Hudson Yards has yet to be confirmed, the transition represents a long-term investment in both the company’s culture and its staff, according to the firm’s Chief People Officer.
The building at 441 Ninth Avenue, known as Hudson Commons, spans more than 700,000 square feet and is currently 84.4% leased. It features several notable tenants, including Lyft, Arcesium, True, and Brevet Capital Management. The asking rents within Hudson Yards are reported to range between $127 and $155 per square foot, with a reported average rent of $130.02 per square foot as of the first quarter of the year.
AlphaSense’s decision to move is part of a strategic expansion, as the firm seeks to adapt to evolving workplace needs following the pandemic. It plans to enhance its office space with advanced technology, modern workstations, and a better mix of meeting rooms and collaborative spaces to better suit its team’s diverse working styles. Notably, approximately one-third of AlphaSense’s employees work remotely, with the company maintaining offices in ten cities globally, including Chicago and London.
In addition to the upcoming move, AlphaSense has recently made headlines by acquiring the research provider Tegus for $930 million, showcasing its growth and solidifying its role as a key player in the market intelligence sector. Currently, AlphaSense boasts over 6,000 customers, highlighting its extensive reach and impact within the industry.
The decision to expand its headquarters comes alongside significant trends in the New York City commercial real estate market. The current office building at 24 Union Square East is managed by S. Klein Family LLC and is reported to be 83.8% leased, with office rents estimated between $44 to $54 per square foot. As the market evolves, firms like AlphaSense are adapting by investing in modern, flexible work environments that cater to their employees’ needs.
Despite the ongoing shifts in how businesses operate post-pandemic, AlphaSense’s move to Hudson Commons is indicative of a broader trend toward securing larger, more technologically advanced office spaces, reaffirming the company’s commitment to fostering a collaborative work culture while maintaining a presence in the vibrant New York City market.
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Additional Resources
- Crain’s New York: AlphaSense Picks Hudson Commons for New Global Headquarters
- Wikipedia: New York City
- Connect CRE: AlphaSense Relocates NYC Headquarters to Far West Side
- Google Search: AlphaSense
- Commercial Observer: AlphaSense Lease at 441 Ninth Avenue
- Google Scholar: AlphaSense
- Commercial Search: Growing AI Firm Signs New HQ Lease in Manhattan
- Encyclopedia Britannica: AlphaSense
- News Journal: AlphaSense Expands Global Footprint with New Flagship Headquarters in New York City
- Google News: AlphaSense
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