Knoll Will Move to 1330 Avenue of the Americas, Freeing Up Space for Google
RXR Realty has signed furnishings giant Knoll, Inc. on for 50,000 square feet of space at its 1330 Avenue of the Americas. Knoll will most make the move to the second through fourth floors at the 534,000-square-foot building during the first quarter of 2013.
It’s an exciting get for RXR, since Knoll will be moving from Google’s building at 111 Eighth Avenue, a fact not lost on William Elder, executive vice president and managing director in RXR’s New York City office. As The Commercial Observer reported in late June, the furnishings company was rumored to be leaving 111 Eighth Avenue in an exit that was said to be facilitated by a payoff from the tech giant, which has hoped to reclaim some space there for its own expansion needs.
“This highlights 1330’s ability to attract creative and innovative tenants that might otherwise locate in Midtown South, as Knoll will be coming from the Google building at 111 Eighth Avenue,” Mr. Elder said in a statement about the lease deal. “Knoll is a premier company whose creative aesthetic pushes the boundaries of design and technological innovation to produce furnishings that speak to today’s ever-changing tastes, trends and needs.”
Knoll was represented by Jones Lang LaSalle’s Martin Horner and Scott Cahaly, neither of whom returned a phone call seeking comment. Mr. Elder represented RXR.
RXR bought 1330 Avenue of the Americas in December 2010 for $400 million—or $747 per square foot—from Canadian pension fund Caisse de dépôt. This most recent lease brings occupancy there to almost 90 percent, according to Mr. Elder. Other tenants there include education company Pearson, the anchor tenant, and Silvercrest Asset Management.