Fortune 500 Data Management Company Relocating to 285 Madison Avenue
Lauren Elkies Schram April 14, 2016, 10 a.m.
NetApp, a Fortune 500 computer storage and data management company based in Sunnyvale, Calif., is moving to 285 Madison Avenue upon lease expiration at SL Green Realty Corp.’s 100 Park Avenue, a source with knowledge of the deal told Commercial Observer.
The company signed a deal for 18,242 square feet, amassing the entire 19th floor at the 27-story East 40th Street building owned by RFR Realty, the source said. The asking rent was $78 per square foot and the company is slated to move in during the first quarter of 2017. The lease is for 10 years and six and one-half months.
JLL’s Alexander Chudnoff and Matthew Astrachan represented the tenant in the deal. Mr. Chudnoff, Mitchell Konsker, Dan Turkewitz and Diana Biasotti, all of JLL, worked on behalf of the landlord along with AJ Camhi of RFR.
A spokesman for JLL didn’t respond to a request for comment and a spokeswoman for RFR declined to comment.
RFR and GreenOak bought the 90-year-old 285 Madison Avenue in 2012 for $189.3 million from advertising agency Young & Rubicam.