Chelsea Office Building Secures 120K-sf Tenant in Relocation Deal
Biometric screening company CLEAR will be relocating from its current Plaza District headquarters within the Park Avenue Tower, 65 East 55th Street in October 2022. The company that “specializes in biometric screening for airport security” has signed a 15-year lease for 120,000 square feet. As part of the deal, CLEAR will receive 16 months of rent concession, as well as a monthly rent abatement through 2027 to cover the remainder of its current Midtown lease. Base rent will start at $12.2 million per year and escalate to $14.3 million over the term of the lease.