Construction Advisory Firm Lehrer Cumming Moving to 900 Third Avenue
By Nicholas Rizzi July 21, 2020 10:27 am
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Construction advisory firm Lehrer Cumming plans to leave its Seventh Avenue digs for a bigger space at 900 Third Avenue, Commercial Observer has learned.
Lehrer Cumming signed a six-and-a-half-year sublease with beauty-products company Shiseido Americas Corporation for 17,355 square feet on the entire sixth floor of the Midtown East building between East 53rd and East 54th Streets, a source with knowledge of the deal said. Asking rent was $60 per square foot, according to the source.
The construction advisory firm currently has a 14,692-square-foot office at Vornado Realty Trust (VNO)’s 888 Seventh Avenue between West 56th and West 57th Streets, as CO previously reported.
It moved into the second-floor space when it signed a two-year sublease in 2018, after Lehrer — which had 7,500 square feet at 888 Seventh Avenue — merged with project management firm Cumming that same year, as per CO. Lehrer Cumming plans to relocate to 900 Third Avenue in late Q3 of this year, the source said.
Shiseido, a subsidiary of Tokyo-based Shiseido Company Limited, previously occupied nearly 90,000 square feet in Paramount Group’s 900 Third Avenue but inked a deal to relocate its U.S. headquarters to 225,818 square feet at 390 Madison Avenue in 2017, CO previously reported.
Newmark (NMRK) Knight Frank’s Matthew Leon and Andrew Margolin represented Lehrer Cumming in the sublease. Arkady Smolyansky, Lauren Crowley Corrinet, Ralph Giordano, Mike Geoghegan and Adele Huang of CBRE (CBRE) handled it for Shiseido.
A spokeswoman for CBRE did not immediately respond to a request for comment and an NKF spokesman declined to comment.
