NasdaqInc. is relocating its global headquarters from downtown Manhattan to Times Square.
The stock-exchange operator, which is home to about 3,900 listings, has signed a 145,000 square-foot lease to move to 4 Times Square, the Durst Organization tower where the company holds its market bell ceremonies. Nasdag will relocate from One Liberty Plaza, which has served as the company’s home for almost 18 years, Adena Friedman, Nasdaq’s chief executive, said.
Since 1999, Nasdaq has had a presence at 4 Times Square where it launched its MarketSite facility, a space where the company hosts client events. Since then, the location has become a center for the company, Ms. Friedman said.
“Looking at how much time and energy we were spending with clients in Times Square, we realized some employees lose out on spending time with clients and we were bifurcating employees unnecessarily between One Liberty and Times Square,” Ms. Friedman said.
The 15-year lease deal with Durst will create a headquarters with a new event space and terrace on the 10th floor of the 1.8 million square-foot tower.
Durst has recently invested in a $140 million improvement program to 4 Times Square, adding an almost 46,000 square-foot amenity floor for tenants, featuring a cafe and coffee bar run by Michelin Star Chef Claus Meyer as well as conference and event spaces.
The tower had been home to Condé Nast, which moved to One World Trade Center in 2014. Durst has since leased about 68% of Condé Nast’s old space.
Write to Keiko Morris at Keiko.Morris@wsj.com
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