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Executive suites in prime locations prosper.

On March 15, Headquarters Companies - the largest executive suite firm in the world - opened its fifth business center in Manhattan at the historic Hippodrome Building - 1120 Avenue of Americas.

With 55,000 square feet and 175 individual offices, the new center was also the largest.

It may have seemed quixotic to open such a major facility in offices with short leases. Companies can start business in Manhattan within 24 hours without investing in staff, equipment, or a long term lease.

As a result of these trends, the new Hippodrome Center is already over 40 percent full. This is well ahead of schedule.

HQ has also signed a lease on 29,000 square feet in the Colgate-Palmolive Building at 300 Park Avenue at 50th Street. With 90 fully equipped and staffed offices, the facility will be open on August 15 as an international center specializing in meeting the needs of international businesses and business people.

In drawing on international companies that need special translation and relocation services, the new Park Avenue Center is targeted at a specific market that has been before received special attention.
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Title Annotation:Review and Forecast, Section II; office leasing, New York, New York
Author:Donohue, Kathryn J.
Publication:Real Estate Weekly
Date:Jun 24, 1992
Previous Article:Long-term growth seen for NY after consolidation.
Next Article:Rewards come to those who increase value.

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