Lease Beat

Japanese Media Giant Re-inks Lease at Tower 52

International media company Fujisankei Communications International, Inc. re-signed its lease for 21,222 square feet at Tower 52, a Class A office building in Midtown East, The Commercial Observer has learned.

tower 52 Japanese Media Giant Re inks Lease at Tower 52

Tower 52 (photo courtesy of CoStar)

The company, which serves as the overseas division of Fuji Media Holdings, will continue to occupy the top three floors (33, 34, and 35) of 150-156 E 52nd Street in its lease renewal. Terms of the lease renewal, including the length of lease and the asking rent, were not disclosed. 

According to CoStar data, the new lease is set to expire in 2018 and is a 5-year renewal from when the current lease expires in 2013.

Cushman & Wakefield’s Fred Smith and Omar Farooq represented Fujisankei Communications International in the lease deal. Building owner Princeton International Properties were represented in-house by David Tawfik and Robert Benedetto. 

With a year left on Fujisankei’s lease, the company decided to look around for a new space as it mulled re-signing another lease for its top three floors at Tower 52.

“We looked up and down Madison Avenue, Lexington Avenue, and Third Avenue, but this building was head and shoulders above every other building we looked at,” said Mr. Smith.

The top three floors also offered Fujisankei a feeling of “exclusivity.”

“The ownership of the building is extremely tenant-friendly and easy to work with,” added Mr. Smith.

Established in 1986, Fujisankei produces news and entertainment segments for both the Fuji Television Network and the Sankei Shimbun newspaper. It also produces popular American shows like Spike TV’s MANswers and The Sci Fi Channel’s CHA$E. Fujisankei has seven offices across the world.

drosen@observer.com