NEW YORK CITY – Avison Young, the world’s fastest-growing commercial real estate services firm, today announced the completion of a 26,400-square-foot (sf) new office lease on behalf of leading investment management firm Federated Investors, Inc., at 101 Park Avenue in Manhattan. The lease comprises the tower’s entire 41st floor.
The Avison Young team of Principal Greg Kraut, based in the firm’s New York City office, and Principal Brad Totten, who works in Avison Young’s Pittsburgh office, led the assignment on behalf of Federated. John Cefaly and Clark Finney of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co., LLC.
“We were able to move quickly to identify an ideal, full-floor location in an iconic building that will afford Federated greater office space efficiency for its New York City operations,” comments Kraut. “The company’s new location features great views and a lot of natural light, and is within proximity to Grand Central Terminal, providing ease of access to Manhattan’s foremost transit hub for both Federated’s employees and the company’s clients.”
Federated will take occupancy of its new space at 101 Park Avenue in December 2014, upon completion of its build-out. Avison Young’s New York City-based project management team, led by Principal and Managing Director Edward Walsh and Director Kirsten Beck, is overseeing the design and construction of Federated’s new office.
Adds Totten: “As a result of our long-standing relationship with Federated, our national platform, and our integrated service approach, we were able to secure a location well in advance of the company’s current New York City lease expirations, allowing us to lock in today’s market rates and providing the necessary time for build-out of Federated’s new office space in line with the company’s requirements.”
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 53 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.