Fujitsu America, Two Other Tenants Renew at Durst’s 733 Third Avenue
By Lauren Elkies Schram October 11, 2017 1:30 pm
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Three tenants—Fujitsu America, Marwood Group and Continental Industries Group—have signed leases to remain at 733 Third Avenue between East 45th and East 46th Streets, Commercial Observer has learned. The 10-year deals were all negotiated in the last few few weeks, with an asking rent of $68 per square foot, according to the landlord, the Durst Organization.
In the largest of the latest transactions, Marwood Group, a health care-focused advisory and consulting firm, will continue leasing the 25,438-square-foot 11th floor.
“Marwood has been at 733 Third for almost 10 years,” emailed Dennis Someck of Lee & Associates NYC, Marwood’s long-time exclusive broker. “The building has worked well for them and Durst has been a terrific landlord. After reviewing and evaluating all other options Marwood decided that it made sense to remain in their current location. The Durst team…was terrific to deal with and structured an economically attractive deal to retain Marwood as their tenant.”
In the second-largest, Fujitsu America, which provides a portfolio of business technology services, computing platforms and industry solutions, has renewed a deal to remain in 10,964 square feet on the 17th floor at the Midtown building, as per information from Durst.
Fujitsu, a tenant in the building since 2004, is renovating its suite to accommodate the digital team’s need for an open-concept floor plan, the landlord indicated. Brian Cohen of Newmark (NMRK) Knight Frank represented Fujitsu in the deal. A NKF spokesman didn’t respond with a comment.
And Continental Industries, a global sales and distribution company of chemicals and polymers, will be relocating from the 20th floor to the 7,442-square-foot 21st floor. Michael Joseph of Colliers (CIGI) International represented Continental Industries, a Colliers spokeswoman confirmed, saying that the broker declined to comment.
Durst’s Ashley Gee represented Durst in-house in all three deals.
“We are thrilled to have Fujitsu, Marwood and Continental Industries renew their leases at 733 Third Avenue,” Jonathan “Jody” Durst, the president of the Durst Organization, said in a prepare statement. “It is a great compliment when a tenant stays in our portfolio. We look forward continuing our relationships with these stellar companies.”
Durst erected the Emery Roth & Sons-designed building in 1961. The 24-story, 445,000-square-foot structure is 98.3 percent occupied, Durst’s spokesman said. Major tenants include National Multiple Sclerosis Society, Rodale and Rosenberg & Estis.
