McGuireWoods Inks 43K-SF Deal in Move Within Midtown
By Liam La Guerre March 24, 2017 11:35 amreprints
Global law firm McGuireWoods has signed a 42,500-square-foot lease at Mitsui Fudosan America’s 1251 Avenue of the Americas, the landlord announced today.
The law firm will occupy the entire 41,900-square-foot 20th floor of the building between West 49th and West 50th Streets and a 1,659-square-foot portion on the concourse level. The asking rent in the 15-year transaction was not disclosed by the landlord. McGuireWoods is moving its New York office from a few blocks north at 1345 Avenue of the Americas between West 54th and West 55th Streets. At it’s current location, it leases the entire 35,671-square-foot seventh floor.
“At 1251 Avenue of the Americas, we look forward to creating an office space that will be indicative of the firm’s increasing New York profile and presence,” Noreen Kelly, the managing partner for McGuireWoods’ New York office, said in prepared remarks.
Chris Mongeluzo and Brian Cohen of Newmark Grubb Knight Frank represented McGuireWoods in the deal. A separate NGKF team of David Falk, Peter Shimkin, Eric Cagner, Romel Canete and Nick Berger brokered the deal for the landlord. A spokesman for NGKF did not immediately return a request for comment.
McGuireWood’s new home is in a 54-story, 2.4-million-square-foot building that is currently 98 percent leased. Mitsui Fudosan America recently signed a 31,700-square-foot deal for a subsidiary of German bank Berenberg for the top floor. The asking rent in that deal was $110 per square foot, as Commercial Observer reported this week.
“We are pleased to welcome Berenberg Capital Markets and McGuireWoods to 1251 Avenue of the Americas,” Christopher Perez, a senior vice president at Mitsui Fudosan America, said in statement. “Both tenants exemplify the kind of leading companies that have enjoyed great success at 1251. We look forward to serving as their New York headquarters for many years to come.”