CBRE Grows by 44K SF at MetLife Building
By Nicholas Rizzi August 11, 2020 3:43 pm
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CBRE will expand its New York City headquarters at the MetLife Building by 44,000 square feet, the company announced today.
The Los Angeles-based brokerage signed a six-year lease for the entire 18th floor of the 58-story office tower at 200 Park Avenue between East 44th and East 45th Streets, according to CBRE.
CBRE has been in the MetLife since 1987, and currently occupies the entire 19th, 20th and 22nd floors along with parts of the 20th and 27th floors, a spokeswoman for CBRE said.
The new deal brings CBRE’s presence in the building, owned by the Irvine Company and Tishman Speyer, to 215,000 square feet. It plans to move into its new digs in the fall.
“Our expansion at 200 Park speaks directly to the success we have achieved in attracting top talent,” Matt Van Buren, CBRE’s tri-state president, said in a statement. “This enables us to consolidate our Advisory Services business lines — now housed at 200 Park and One Penn Plaza — at one location — a long-held goal — in order to foster collaboration, connectivity and partnership.”
CBRE’s MetLife deal was off-market and had no asking rent, but CoStar (CSGP) Group data shows asking rents range from $65 to $86 per square foot in the building.
Craig Reicher of CBRE handled the deal for the brokerage while Tishman Speyer’s Gus Field and Megan Sheehan represented the landlords in-house. A spokesman for Tishman Speyer did not immediately respond to a request for comment.
Aside from expanding its MetLife digs, CBRE also announced it will leave its space at 140 Broadway in the Financial District and move that office to its coworking arm Hana’s first New York City location at 3 World Trade Center.
