On, the Swiss athletic footwear and apparel company, is relocating and expanding its New York City headquarters to 85,346 square feet at Penn 1, according to Commercial Observer.
The company will occupy space across the seventh and eighth floors of Penn 1 at 1 Penn Plaza. The move expands On’s New York presence from its current office in SoHo and gives the company room to bring its local operations together in a larger headquarters.
The deal covers a 15-year lease. The seventh-floor space includes access to an outdoor terrace, while the full eighth floor will provide the main portion of the company’s new office footprint. The transaction reflects On’s continued growth as it expands its direct-to-consumer business and broader presence in the United States.
Tenant: On
Building: Penn 1
Floor: 7 & 8
Lease term: 15 years
SF: 85,346