March 29, 2018 / 12:55 PM / a year ago

Shared workspace provider Jay Suites to take over Hudson's Bay Manhattan office lease

TORONTO, March 29 (Reuters) - Shared work-space provider Jay Suites has agreed to take over the remaining lease of Canadian department store operator Hudson’s Bay Co office in Manhattan, Jay Suites president Juda Srour told Reuters on Thursday.

The 90,000 square-foot (8,361 square-meter), 12-storey building is next to the Lord & Taylor store that Jay Suites rival WeWork Co. bought last year from HBC, Srour said in an interview. The asking rent is $45 per square foot and the lease has 17 years left on it, Srour said, declining to provide the rent the company will actually pay.

HBC did not offer an immediate comment. (Reporting By Nichola Saminather Editing by Chizu Nomiyama)

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