Jones Lang LaSalle


A healthy choice to consolidate

A managed care company is consolidating its New York area offices in midtown. Health Net has leased 24,500 square feet, or the entire 26th floor, at 150 E. 42nd St. between Third and Lexington avenues. The asking rent in the 42-story building is $55 a square foot.

The company has 54 employees working on the 40th and 46th floors of the Chrysler Building at 405 Lexington Ave., and shares offices with a sister company, Mental Health Network, at 40 Wall St. It also has space in White Plains, N.Y.

"We wanted to bring all our associates together under one roof," says Marian Cutler, a spokeswoman for Health Net. "The midtown location is convenient for employees, and being in the heart of Manhattan also makes it easy for our clients."

More than 100 employees will move into 150 E. 42nd St. over the first week of June. The office space also gives the company room to expand, Ms. Cutler says.

The tenant was represented by Cushman & Wakefield Inc. and Madison Partners. CB Richard Ellis represents the building.

--Julie Satow