Perkins Coie, Others, Take Space at Durst’s 1155 Avenue of the Americas [Updated]
Perkins Coie, Deutsche Börse and Genpact lease at 1155 Avenue of the Americas.
By Sara G. Marcus July 5, 2018 3:07 pm
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International law firm Perkins Coie will relocate to the Avenue of the Americas.
The firm will move as it expands its footprint in the city. Perkins Coie signed a 15-year lease for 57,971 square feet at Durst Organization’s 1155 Avenue of the Americas. The lease spans the entire 20th through 22nd floors and half of the 23rd floor.
The asking rent was around $80 per square foot, according to The Real Deal, which first reported news of the deal.
The Seattle-based firm has 19 offices in the United States and China. It will relocate its New York City office from 38,000 square feet in Rockefeller Center, where it has been located since expanding to Manhattan in 2011. The firm expects to move into the new space in 2019.
“Having experienced significant growth in the New York market in recent years, Perkins Coie is delighted to have the opportunity to move into a distinctive, cutting-edge and versatile workspace at 1155 Avenue of the Americas in 2019 that will accommodate our continued, strategic growth and reflect our entrepreneurial culture,” said Keith Miller, office managing partner of Perkins Coie’s New York office, in a prepared statement.
The space was made available when the occupant, law firm White & Case, moved to 1221 Avenue of the Americas.
CBRE (CBRE)’s Ken Rapp, David Kleinhandler, Michael Wellen and Cara Chayet represented Perkins Coie in the deal. A CBRE spokeswoman didn’t return a request for comment.
Diversified business services company Deutsche Börse has also taken space in the 41-story, 790,000-square-foot building. The firm signed a 10-year lease for 12,095 square feet, and will occupy part of the 19th floor when it relocates from 60 Broad Street.
Simon Landmann of JLL (JLL) represented the company in the deal. Landmann declined to comment.
In both deals, Durst was represented in-house by Tom Bow and Rocco Romeo; they were joined by colleague Tanya Grimaldo in the negotiations with Deutsche Börse.
“With its prestigious Sixth Avenue address and dazzling midtown views, 1155 has always had an impressive tenant roster,” Jonathan “Jody” Durst, the president of the Durst Organization, said in a prepared statement. “Today, after more than $100 million in upgrades, including new windows and a new lobby, the building has become a mecca for boutique financial service firms that seek an elegant environment for their client-facing business.”
And in a third deal, digital services firm Genpact (as in, “generating business impact”) has signed a new direct lease at 1155 Avenue of the Americas, according to The New York Post, which first reported news of the deal. The company has occupied 21,744 square feet of the fourth floor via a sublease with OK! Magazine since 2011 and will now have the space via a direct transaction with the landlord, the Post indicated. The asking rent in Genpact’s deal with Durst was $85 per square foot. The length of the lease is 10 years, according to a spokesman for Durst.
JLL’s Jim Wenk and Kirill D. Azovtsev represented Genpact. Durst was represented in-house by Bow, Romeo, Ashlea Aaron and Ashley Mays. “After an extensive evaluation of alternatives, Genpact renewed its committed at 1155 due to the ownership’s recent capital improvements and the building’s central proximity to all major transit hubs,” Wenk emailed CO.
Update: This story has been updated to include comment from JLL’s Jim Wenk.
