Activity in Premiere Office Building Strong Among Global Financial Services Firms, as Existing Tenants Renew and Expand and New Leases Are Signed
NEW YORK, May 5, 2015 /PRNewswire/ — RFR today announced five new leases at 375 Park Avenue. The leases represent strong tenant retention and new activity at the landmarked building, as demand for space in the office building remains robust. In all, the leases total 81,806 square feet of activity.
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Centerbridge Partners, a multi-strategy private investment firm focused on corporate buyouts and distressed securities, renewed and expanded its lease, taking a total of 46,571 square feet of space. Brian Goldman and Neil Goldmacher of Newmark Grubb Knight Frank represented Centerbridge Partners in the lease renewal and expansion.
Also expanding in the building is U.K.-based investment management firm Winton Capital, which signed a lease to expand into 5,770 square feet. Donald DiRenzo, Jr. at Cushman & Wakefield negotiated the lease for Winton Capital.
Banco de Bogota, a Colombian commercial bank, renewed for 1,478 square feet of space. Peter Shimkin and Alex Leopold at Newmark Grubb Knight Frank represented the tenant.
Perez-Llorca, a Spanish law firm, has signed a new lease for 1,927 square feet of space at 375 Park Avenue. Robert Lowe and Evan Algier at Cushman & Wakefield negotiated the lease for the tenant.
Canadian asset management company Fiera Capital signed on for the entire 8th floor, comprising 26,060 square feet. Robert Kennedy of Colliers International represented Fiera Capital in the lease.
Located on Park Avenue between 52nd and 53rd Streets, 375 Park Avenue has served as the U.S. headquarters for many of the world's premiere financial services firms, hedge funds, private equity firms and sovereign wealth funds.
"Retaining and expanding existing tenants is important to me. Our property management team works hard to maintain the supremacy of this extraordinary asset," said Aby Rosen, Co-Founder and Principal of RFR. "We are seeing more wealth funds in the market and 375 Park remains the most attractive address for global business."
RFR was represented by Steve Morrows, Executive Vice President, in four of the leases. JLL represented RFR in the Perez-Llorca lease and represents the firm in all future leases.
Recently RFR opened an exclusive executive roof terrace and lounge, one of the few private outdoor spaces on Park Avenue, complementing one of the world's great plazas. RFR is in construction on cosmetic upgrades to the parking garage and chauffeur's waiting lounge, and currently installing on the plaza a colossal sculpture weighing 20 tons by Urs Fischer.
About RFR
RFR (http://www.rfr.com/) is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR's portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
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