Holland & Knight Represents Pearson Inc. in New York Lease Negotiations
NEW YORK – September 30, 2011 – Holland & Knight represented Pearson Inc. in negotiating a lease for 272,000 square feet of office space in a building currently undergoing renovation and expansion at 330 Hudson Street, near the existing operations of Pearson's affiliate Penguin Group (USA), Inc. in Lower Manhattan's Hudson Square neighborhood.
Pearson, whose businesses also include Pearson Education and The Financial Times Group, plans to relocate 600 employees from New Jersey into Manhattan starting in 2014. The company currently occupies more than 400,000 square feet at 345 and 375 Hudson Street. The lease on Pearson's new Hudson Square space will be held with 330 Hudson Street LLC, a Beacon Capital Partners affiliate, which is leading the redevelopment of the building.
Michael Kuppersmith was the lead Holland & Knight attorney on the transaction. Also providing counsel was Rita Dattola.
New York Mayor Michael R. Bloomberg has hailed Pearson's plans to expand its New York presence, not only for bringing hundreds of new jobs to the city, but also as a long-term investment in its future.