Construction Advisory Firm Lehrer Cumming Consolidates at 888 Seventh Avenue
By Rey Mashayekhi October 12, 2018 6:51 pm
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Construction consultancy Lehrer Cumming—formed after the August merger of construction advisory firm Lehrer into project management firm Cumming—is consolidating its offices at 888 Seventh Avenue after signing a sublease for nearly 15,000 square feet at the Midtown office tower, Commercial Observer has learned.
Lehrer Cumming inked a two-year deal to take 14,692 square feet of space on the second floor of the 45-story, 841,000-square-foot building at the northwest corner of West 56th Street, a representative for the firm told CO. The company is subleasing the space from ticketing sales and distribution company Ticketmaster, a subsidiary of Live Nation Entertainment.
The transaction will see Lehrer and Cumming consolidate their New York City offices into the second floor space—with Lehrer vacating the 7,500 square feet it previously occupied on the 10th floor of 888 Seventh Avenue and Cumming relocating from the roughly 5,000 square feet it had at 275 Madison Avenue at the southeast corner of East 40th Street.
The company began moving its 80-person New York City-based team into its new offices at the start of this month and is currently in the process of subleasing out its former spaces, a Lehrer Cumming spokeswoman said.
“Having all Lehrer Cumming team members together under one roof allows us to leverage our individual resources and provide unmatched owner advisory services to clients,” Lehrer Cumming CEO Peter Lehrer said in a statement.
Asking rent in the deal was not disclosed. Matthew Leon of Newmark (NMRK) Knight Frank represented Lehrer Cumming in negotiations, while it was not immediately clear who represented Ticketmaster. Representatives for NKF did not return a request for comment.
While the Midtown location will serve as Lehrer Cumming’s main office, the company has roughly 100 employees working across five offices, including locations in Boston, Washington, D.C. and Miami. The newly merged firm operates as a division of Cumming, an international project management firm with more than 700 employees across 30 offices worldwide.
Other tenants at 888 Seventh Avenue include TPG Real Estate Finance Trust, United Talent Agency, Lone Star Funds and Advent Capital Management. The office tower also houses the headquarters of the building’s landlord, Vornado Realty Trust (VNO).
