Lactalis Takes 15K SF at 80 Pine Street in Financial District

reprints


Dairy products giant Lactalis American Group will relocate within the Financial District.

The American arm of the French Lactalis Group signed a 16-year lease for a full floor at 80 Pine Street, spanning 14,752 square feet. Lactalis will occupy the 35th floor of Rudin Management’s 38-story tower and plans to make the move this fall. 

SEE ALSO: Nightlife Mogul David Grutman Rumored to Be Eyeing Miami’s Wynwood Garage

Asking rents at the higher floors of the property range from the mid- to high-$50s per square foot, according to information from Rudin. 

The new location is just up the block from the current Lactalis office at 77 Water Street. The company is behind dairy brands like Président, Stonyfield and Siggi’s

“We are very happy to be moving our NYC team to the 35th floor of 80 Pine Street this fall and establishing a new, long-term relationship with the Rudin family,” Lactalis American Group CEO Jean-Luc Bruandet said in a prepared statement. 

A Savills team of Erik Schmall, Peter Cipriano and Dan Thompson represented Lactalis in the transaction. Kevin Daly and Tom Keating handled it for Rudin in-house, along with JLL’s Frank Doyle, Alexander Chudnoff, Peter Riguardi, John Wheeler, Eliza Akers and Kyle Young

The 1.2 million-square-foot 80 Pine Street is undergoing a capital improvement program that includes a ground-floor renovation by Fogarty Finger. The project will add a new lobby, a dedicated amenities floor, and facade upgrades along the three streets that the building fronts: Pine Street, Pearl Street and Maiden Lane. Rudin recently closed on a $38 million loan to finance the property, Commercial Observer previously reported