Absolut Maker Renews HQ at 250 Park

reprints


Liquor producer Pernod Ricard renewed its lease for its United States headquarters on Park Avenue, Commercial Observer has learned. 

SEE ALSO: Mesa West Capital Lends $34M on Austin Apartment Complex Acquisition

The American branch of the French company, Pernod Ricard USA, will continue to occupy a 48,722-square-foot space at 250 Park Avenue, between East 46th and East 47th Streets, according to information from Cushman & Wakefield

Cushman’s David Hoffman, Robert Billingsley and Whitnee Williams represented the landlord, AEW Capital Management, and the tenant was represented by David Falk, Greg Frisoli and Alex Leopold of Newmark Knight Frank

The lease term is ten years and asking rent was $76 per square foot, per Cushman.

Pernod Ricard’s space, which spans the sixteenth and seventeenth floors of the 20-story property, includes a custom bar, two terraces overlooking Park Avenue, and a lounge-like atmosphere that encourages employees to sit and work in different areas. 

The company, which makes Absolut Vodka, Kahlua, and other brands, recently announced that it would produce hand sanitizer at its United States manufacturing sites to help with the novel coronavirus outbreak. The firm operates distilleries in Arkansas, West Virginia, Kentucky and Texas. 

In 2018, Pernot subleased space on the 18th floor of the building to legal tech firm Complete Discovery Source for a five-year term, CO reported at the time. Other tenants in the building include consulting firm Conning and staffing company Insight Global.