Investment Manager Renews and Expands at 717 Fifth Avenue
By Gus Delaporte July 10, 2013 7:45 am
reprintsWilliams, Jones & Associates has signed a 10-year renewal and expansion at 717 Fifth Avenue, The Commercial Observer has learned. The investment management firm will move to the building’s 13,581-square-foot 11th floor.
“Williams Jones has been a long-time occupant of 717 Fifth Avenue,” said Lindsay Ornstein, principal at Transwestern, who represented the tenant, in a statement. “When their occupancy needs changed and they required additional space, the building owner worked with us to relocate the firm within the building and accommodate growth.”
Founded in 1988, Williams, Jones & Associates manages $4.4 billion in equity and fixed income securities on behalf of private investors, retirement plans and non-profit organizations.
“The firm has continued to grow and we are pleased with the efforts of Transwestern and Equity Office Properties to accommodate this growth and enable us to remain in the building for a third decade,” added William P. Jones, Jr., chairman of Williams Jones, in the statement.
Located in the heart of the Plaza District, 717 Fifth Avenue’s tenant roster includes a number of financial services firms including Bank of America (BAC) Merrill Lynch, JC Flowers, Corsair Capital, Island Capital and Wesley Capital. In 2008, the building’s infrastructure was upgraded to better facilitate trading operations, including the installation of an emergency diesel generator and a 600-ton cooling tower.
Ms. Ornstein and Patrick Robinson of Transwestern represented Williams Jones in the leasing transaction. Zachary Freeman, Stephen Winter, Ryan Alexander, Brian Hay and Robert Stillman of CBRE (CBRE) represented the landlord, Equity Office Properties.
