Infrastructure Investor Inks 42K-SF Deal to Move in Midtown
Global Infrastructure Partners, a private equity investor that focuses on infrastructure companies, has signed a 42,336-square-foot lease at Fisher Brothers’ 1345 Avenue of the Americas in Midtown, Commercial Observer has learned.
The tenants will occupy the entire 30th floor of the 50-story building in Midtown between between West 54th and West 55th Streets, according to a source with knowledge of the deal. The transaction is for 16 years and two months, and the asking rent was $95 per square feet.
Global Infrastructure Partners is relocating in mid-2018 from Tower 49, located at 12 East 49th Street between Fifth and Madison Avenues, where it has 30,500 square feet on the 38th and 39th floors, according to CoStar Group.
JLL’s Robert Martin, Dan Santagata and Jason Schwartzenberg handled the deal for Global Infrastructure Partners. Peter Riguardi, Alexander Chudnoff, Cynthia Wasserberger, Benjamin Bass and Betsy Buckley represented Fisher Brothers. The JLL brokers declined to comment, as did a representative for Fisher Brothers.
Global Infrastructure Partners has more than $40 billion in assets under management, and employs about 21,000 people, according to its website. The company has additional offices in Stamford, Sydney and London.
A spokesman for Global Infrastructure Partners did not immediately return a request for comment.
The 2 million-square-foot building is undergoing a $65 million capital improvement program, which includes a new lobby, modernization of the elevators and a 20,000-square-foot David Rockwell-designed amenity center with conference spaces, a fitness facility, lounge area and a grab-and-go food concept.
Existing tenants in the tower include General Motors and investment management firms AllianceBernstein and Fortress Investment Group.