Teladoc Health, a leading provider of virtual health care services, has renewed and expanded its lease at Marx Realty’s 10 Grand Central. The company doubled its office space to 15,000 square feet in a 10-year agreement. This move coincides with Teladoc Health’s relocation of its corporate headquarters from Purchase, N.Y., to New York City.
A JLL team comprised of Mitchell Konsker, Simon Landmann, Carlee Palmer and Thomas Schwartz represented Marx Realty.
The company initially moved into the building in 2023, when it occupied some 7,000 square feet. JLL’s Sean Lynch and Kevin Duffy represented Teladoc in this previous lease agreement negotiations.
“The Teladoc story is compelling in that the firm has chosen to abandon its suburban New York headquarters in favor of the spectacular office experience and one-seat commute we offer tenants at 10 Grand Central,” said Craig Deitelzweig, CEO of Marx Realty.
Marx Realty has been redeveloping the 35-story office tower at 10 Grand Central with the goal of creating a workspace that evokes the ambiance of a luxury hotel.
“10 Grand Central provides much more than just workspaces,” Deitelzweig said. “Tenants view their office locations as recruiting tools, collaboration hubs and extensions of their own brands. The incredible leasing velocity at 10 Grand Central is proof positive that we created a new benchmark for workplace design when we pioneered the hospitality-infused aesthetic at 10 Grand Central in 2018, and we’re seeing similar success across our portfolio as we have effectively blurred the line between office and hotel.”
In addition to the virtual health care provider’s expansion, Marx Realty also secured a seven-year lease with Exiger, a leading cybersecurity and supply chain technology firm. Exiger will occupy 7,000 square feet at 10 Grand Central, relocating its New York City office from 230 Park Ave. With offices in Bucharest, London and Singapore, the cybersecurity company will be looking forward to the benefits afforded by 10 Grand Central’s prime Midtown East location.
The property at 10 Grand Central boasts a diverse tenant roster, including prominent companies such as Seven Bucks Productions (co-owned by Dwayne “The Rock” Johnson), Mass Mutual and Merchants Bancorp.
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