Investment Manager Moving Headquarters to 605 Third Avenue
By Nicholas Rizzi October 3, 2019 11:56 am
reprints
Global X Fund, an investment manager focused on exchange-traded funds, will move its Lexington Avenue headquarters to 605 Third Avenue in Midtown, Commercial Observer has learned.
The company signed a 15-year lease for 14,500 square feet on the entire 43rd floor of Fisher Brothers’ 44-story tower between East 39th and East 40th Streets, a spokeswoman for the landlord said. Asking rent was in the mid-$80s per square foot, a source with knowledge of the deal said.
Global X plans to ditch its current offices at 600 Lexington Avenue between East 52nd and East 53rd Streets for its new digs in January 2020, according to a Fisher Brothers press release.
Fisher Brothers’ handled the deal in-house by Marc Packman and Charles Laginestra along with Cushman & Wakefield (CWK)’s Bruce Mosler, Louis D’Avanzo, Andrew Ross, Michael Baraldi and Maria Travlos. C&W’s John Picco and Jennifer Casey handled the deal for Global X. A spokesman for C&W did not respond to a request for comment.
The deal brings the 1.1-million-square-foot tower — which Fisher Brothers built in 1963 and finished a $25 million capital improvements project in 2016 — to 97 percent lease, the landlord said.
“We are pleased to welcome Global X, which will benefit from the breathtaking views from 605 Third Avenue’s upper floors as well as Fisher Brothers’ ability to create an office environment that met the firm’s standard and in the necessary timeframe,” Ken Fisher, a partner at Fisher Brothers, said in a statement. “Our renovation program continues to be the driving force behind attracting cutting-edge companies that seek an office tower with innovative design and a progressive approach that is unmatched in the Midtown market.”
Other tenants in the building include media company Univision, fintech company Broadridge Financial Solutions and engineering firm Aecom.
