Penn Plaza deal puts brokers in driving seat.

CB Richard Ellis announced that it has arranged a 27,877 s/f lease on the entire 23rd floor of 5 Penn Plaza on behalf of the building's owner, 5 Penn Plaza LLC, and its newest tenant, HQ Global Workplaces.

CBRE's agency team at 5 Penn Plaza consists of Eric Deutsch, Zachary Freeman, Jason Pollen and Peter Turchin. HQ Global Workplaces, the leading provider of shared office space solutions and business support services, was represented by CBRE's Mark Ravesloot and William Iacovelli in New York.

"With the completion of this transaction, the only remaining space in the building is the exclusive penthouse unit," said Turchin. "We are now able to wait for the right type of user that will want space with a large, usable terrace, skylights and sweeping views of the Hudson River and Jersey City."

Year to date, 5 Penn Plaza has seen 80,000 s/f of leasing, including new tenants such as Sirius Radio, Allied Advertising and American National Power. Other notable tenants include Parsons Brinckerhoff, Thomas Publishing and HNTB.

"HQ Global Workplaces is expanding nationwide, particularly in Manhattan," said Mr. Ravesloot. "They were especially interested in the Penn Plaza area and found 5 Penn Plaza to be an ideal new office location."