Leases  ·  Office

Fidelity Investments Renews 40K-SF Lease at 640 Fifth Avenue


American multinational financial services corporation Fidelity Investments is staying put at Vornado Realty Trust’s 640 Fifth Avenue, Commercial Observer has learned.

Fidelity occupies 40,615 square feet on the entire fourth and fifth floors in the 22-story, 327,000-square-foot building across from Rockefeller Center. It has been in the building for 10 years and will remain for another 10 years, a source with knowledge of the deal. The asking rent was in the low-$80s per square foot, the source said.

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The building is 100 percent occupied with tenants like Victoria’s Secret, which will open a 64,000-square-foot flagship store at 640 Fifth Avenue, as CO reported last October. In May 2015, CO reported that HS Management Partners would be relocating its corporate headquarters to a larger space at 640 Fifth Avenue. Other tenants include Owl Creek Asset Management, an investment advisory firm which signed a lease in April 2015 for 17,588, as CO previously reported, Hitchwood Capital Management, Greentech Capital Advisors and Exane.

Jared Solomon of Vornado represented the landlord in-house and Augustus Field of Cushman & Wakefield brokered the Dec. 31, 2015 deal on Fidelity’s behalf. Neither Mr. Solomon nor a spokesman for C&W responded to a request for comment