TripAdvisor, the Newton-based travel review website, said that it has signed a 10-year lease for 38,000 square feet of space in a New York City office building to accommodate recent acquisitions.
“After phenomenal growth and acquisitions of New York-based Jetsetter, GateGuru, and Oyster last year, we needed a space large enough to bring all the employees together and one that would foster collaboration and innovation,” Julie Bradley, TripAdvisor chief financial officer, said in a statement. “330 Hudson is a state-of-the-art building with a loft-like ambiance in Hudson Square, which is the perfect location for the New York office of the world’s largest travel site.”
TripAdvisor made that announcement with Beacon Capital Partners LLC, a private real estate investment firm whose portfolio of properties includes 330 Hudson St.
Plans call for TripAdvisor to move into its new space in June.
In a separate press release, the commercial real estate services firm HFF said it has arranged an $85 million construction loan for a new six-story building in Needham that will serve as TripAdvisor’s corporate headquarters. That building will have roughly 280,000 square feet of space.
HFF said it worked on behalf of the borrower, a joint venture of Normandy Real Estate Partners and Greenfield Partners, to secure the floating-rate loan. The lender group was led by RBS Citizens and also included People’s United Bank. Normandy and Greenfield are the developers of TripAdvisor’s new headquarters.
TripAdvisor said the new headquarters is set to open in mid 2015, and added that the new HQ will more than double the size of the company’s current space in Newton. The new office headquarters will provide space to accommodate 1,500 employees, including 400 new hires across engineering, product management, marketing, and sales, TripAdvisor said.