With the major tenants - law firm Freehills and the ANZ Bank - set to move into the new 161 Castlereagh Street skyscraper in the next few months, new leases are being signed in the surrounding space, including a new and expanded Officeworks.
The outlet at 242 Pitt Street will be one of the larger city concept stores for the office and stationery group.
The lease further signifies the revamp of the southern end of the central business district that has been redeveloped over the past year. The new Officeworks covers more than 1000 square metres and will stock more than 6500 products.
Leasing agents said demand for space was coming from the less traditional retailers such as Officeworks and reflected the general shift in the city away from fashion to technology, electronics and mobile phone devices, stationery, restaurants and coffee bars.
Officeworks has been relocated from the more northern end of the city in Kent Street.
Officeworks general manager of property Kerry Duncan said the outlet brought the number of stores the company has opened this financial year to 11, with more to come in 2013.
The recently opened outlets include a concept store at 68 Hunter Street and one at Bourke Street in Melbourne.
Ms Duncan said opportunities like this were scarce in Sydney's CBD. She said the 161 Castlereagh Street tower presented Officeworks with direct customer access to the busy Pitt and Castlereagh streets.