International Hedge Fund Grabs Space at Midtown South Building
Rheaa Rao July 12, 2016, 11:36 a.m.
Winton Capital Management, a London-based company, has inked a 34,844-square-foot deal at 315 Park Avenue South between East 23rd and East 24th Streets.
The investment management firm will occupy the entire 19th and 20th floors of the 20-story building owned by Columbia Property Trust. Asking rent in the 10-year lease was $105 per square foot.
“Attraction for a space like ours brings in clients from different industries,” Nelson Mills, the chief executive officer of Columbia Property Trust, told Commercial Observer. “We were very happy with their [Winton Capital’s] terms and credit.”
Evan Margolin and Lance Leighton of Savills Studley represented the tenant and declined to comment via a spokeswoman. Andrew Wiener and David Young of L&L Holding Company, which manages the building and handles its leasing, represented the landlord.
“We’re providing them with a private entrance, two exclusive elevators and their own roof deck,” Wiener told CO. “They looked at our reimagination of the building as an investment that fits in with their business needs.”
Current tenants at 315 Park Avenue South include health restaurant chain Just Salad and supply chain store Staples, both on the ground floor. Equinox signed a 20-year lease for the second and third floors in January, CO previously reported, while Credit Suisse’s lease expires next March, according to Mills.
The Wall Street Journal first reported news of the deal.