By Gus Delaporte on September 05, 2013.
Etrali Trading Solutions, a French company, has signed a seven-and-a-half-year lease for 5,837 square feet on the 19th floor of 1500 Broadway, The Commercial Observer has learned.
Starting rent for Etrali’s lease is in the mid-$50s per square foot, according to data from CompStak. An Etrali employee confirmed the deal, citing an expiring lease at the company’s current 225 Liberty Street location and better financial terms as motivation for the relocation. The company expects to move into its new Times Square space next month.
Etrali, a provider of voice and electronic trading infrastructure, was acquired in June by investment fund The Gores Group. In addition to New York, the company operates offices across the world’s major financial centers, including Paris, London, Geneva, Frankfurt, Singapore, Hong Kong and Beijing.
“This is an incredible opportunity for the company to partner with Gores,” said Lionel Grosclaude, chief executive of Etrali, in a statement announcing the acquisition. “Their exceptional track record and operationally focused approach will provide the support that Etrali Trading Solutions needs for continued growth and prosperity.”
The landlord at 1500 Broadway, Zapco 1500 Investment LP, was represented by CBRE’s Paul Amrich, Patrice Meagher and Daniel Bodner. Etrali was represented by John Ryan and Thomas Hines of Avison Young.
Representatives from CBRE and Avison Young did not return calls for comment.