Outsourcing Firm Grabs Park Avenue South Lease
Williams Lea, a company that provides business outsourcing and marketing to corporations, has signed a five year lease at 381 Park Avenue South, Commercial Observer has learned.
According to a press release issued by ATCO Properties and Management, Williams Lea will take 14,000 square feet of space on the entire fifth floor of the property, which sits on the corner of East 27th Street.
The company will be relocating from its current location at 45 West 45th Street in the beginning of this year; the press release noted that Williams Lea “has undergone rapid expansion to meet global demand in recent years.”
CBRE’s Chris Adamo represented the tenant and ATCO’s Peter Goldich represented ATCO, the landlord, in the deal. Asking rents were $59 per square foot.
“We’re delighted to welcome this prestigious logistics company to our building at 381 Park Avenue South,” said Kate Goodman, ATCO’s co-president, in prepared remarks. “This transaction is a clear indicator of the strength of the Midtown South market, the quality of our amenities and services and our building’s strategic location near Madison Square Park and all major transportation hubs.”
A spokesman at CBRE did not immediately respond to a request for comment.