Pharmaceutical Software Developer Nearly Doubles Footprint in 109K-sf Times Square Relocation Deal

Schrödinger has secured a 17-year lease that will relocate the pharmaceutical software developer’s offices to 1540 Broadway. The signing for the 109,000-square-foot space spread across floors 21-24 is nearly double the 63,000 square feet Schrödinger will vacate upon relocation from nearby Tower 45, 120 West 45th Street. Starting rents are in the $70s per square foot range, rising over the lease term; and the deal includes a rent concession of 16 months according to the company’s recent 8-K SEC report.