ICSC Sets Up Shop at 1251 Avenue of the Americas [Updated]
The International Council of Shopping Centers is moving its offices within Rockefeller Center, Commercial Observer has learned.
The 61-year-old retail real estate organization inked a 16-year lease for 44,100 square feet on the entire 45th floor of Mitsui Fudosan America’s 1251 Avenue of the Americas, sources familiar with the deal told CO. ICSC will decamp Rockefeller Group’s 1221 Avenue of the Americas, where it currently occupies 49,834 square feet on the 41st floor on a lease set to expire in 2019, per information from CoStar Group. It plans to move in mid- to late-2019, according to a release from the landlord.
“Midtown has been ICSC’s home for over 20 years, and we look forward to being able to stay in the neighborhood,” said Tom McGee, president and CEO of ICSC, in a statement. “The building is conveniently located and will provide a dynamic environment for our members when they visit.”
Newmark (NMRK) Knight Frank’s David Falk, Peter Shimkin, Nick Berger and Eric Cagner handled the deal on behalf of the landlord and didn’t immediately respond to requests for comment. JLL‘s Chris Kraus and Daoud Awad represented ICSC in the transaction and didn’t immediately return a request for comment.
“We are delighted to welcome this prestigious organization to 1251 Avenue of the Americas,” said Christopher N. Perez, senior vice president of MFA. “Sixth Avenue is more vibrant today than any time in its history, and its location in the heart of Midtown provides ICSC with ideal access to its retail and real estate members.”
Other tenants who have recently moved into the 54-story skyscraper between West 49th and West 50th Streets include life insurance company John Hancock, bank subsidiary Berenberg Capital Markets and law firm McGuireWoods. The property’s largest occupants are MUFG Bank with 281,600 square feet, Mizuho Corporate Bank with 258,888 square feet, and DLA Piper, which occupies 151,000 square feet.
Update: This story has been updated with additional information from the landlord.