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.

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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.

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