LBB Industries Takes 5K SF Penthouse at 475 Fifth Avenue
LBB Industries, a firm that partners with management teams to grow companies, will move its office to the penthouse of 475 Fifth Avenue, Commercial Observer has learned.
The firm signed a five-year lease for the entire 4,126-square-foot 24th floor of Nuveen Real Estate’s Midtown South building between East 40th and East 41st streets, according to brokers Newmark. Asking rent was $100 per square foot.
LBB was founded in 2015, and is the parent company of specialty chemical distributor LBB Specialities and manufacturer LBB Paper & Packaging. It’s currently headquartered at 400 Park Avenue and plans to move into its new digs in August.
Newmark’s Brian Waterman, Scott Klau and Erik Harris represented the landlord, while Bill Levitsky and Matt Augarten, also of Newmark, handled it for the tenant.
“The Penthouse at 475 Fifth Avenue was extremely attractive to LBB due to its convenient location, unparalleled views of the park, and a top-tier pre-built space,” Levitsky said in a statement.
Other tenants in the 275,764-square-foot 475 Fifth include Stantec Consulting Services, investment adviser Kylin Management and publisher Penske Media Corporation.