Grace Beauty Moves HQ to 1140 Avenue of the Americas
Grace Beauty has inked a deal for an office at 1140 Avenue of the Americas.
The beauty development and distribution business that specializes in brand development, operations, and sales services will take a 7,466 square foot space on the 16th floor of the Class A office building. Grace Beauty’s brand portfolio includes Tommy Bahama Fragrances, Izod Fragrance, Guess, and Natuica.
Michael Okun, a senior managing director at Coldwell Banker Commercial Hunter Realty and broker for the tenant, noted that the company will be relocating its headquarters from 152 West 57th Street, also known as the Carnegie Hall Tower.
Mr. Okun was joined by his colleague and a principal of Coldwell Banker, Richard Selig in representing Grace Beauty.
A leasing team from Jones Lang LaSalle consisting of senior vice president Douglas Neye and vice president Ryan Masiello represented the landlord, Equity Office Properties. The vice president of Equity Office’s leasing department, Josh Glick, also assisted the team.
1140 Avenue of the Americas was purchased by Blackstone Group, an affiliate of Equity Office Property, for $100 million earlier this year. The property now stands as one of dozens of Class A buildings in their 70 million square foot portfolio.
The portfolio includes notable buildings in New York such as 1065 Avenue of the Americas, 229 West 43rd Street, and recently renovated 1095 Avenue of the Americas. The $300 million renovation transformed the building from a Verizon phone office to an office building now home to MetLife’s global headquarters.