February 7, 2018 / 2:00 PM / in 5 months

Nasdaq to move New York headquarters to Times Square from downtown

NEW YORK, Feb 7 (Reuters) - Nasdaq Inc said on Wednesday it would relocate its global headquarters from downtown Manhattan to midtown, expanding its presence at the Times Square office tower from where it broadcasts the market opening and closing bell ceremonies.

Nasdaq will expand its space fivefold at 4 Times Square, a 48-story tower owned by The Durst Organization. The building, built in 1999, recently underwent a $140 million renovation that included a new entrance and lobby, among other upgrades.

Nasdaq’s plans include a state-of-the-art event space on the 10th floor that will feature a 2,100 square foot outdoor terrace overlooking Times Square, the company said in a statement.

The space, an extension of the Nasdaq MarketSite where the open and close are conducted, will be designed to host more than 400 people for corporate events.

The greater presence in the heart of Manhattan “will offer an unparalleled experience for our clients for years to come,” Adena Friedman, Nasdaq’s president and chief executive, said in the statement.

The 15-year lease for 145,000 square feet includes an extension of the current 24,000 square foot MarketSite lease.

Nasdaq last week posted higher-than-expected fourth-quarter earnings amid a rise in revenue from non-trading related businesses, now a bigger part of the exchange’s strategic focus.

Reporting by Herbert Lash; Editing by Bernadette Baum

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