PR Firm Brunswick Group Moving to 60K SF at the Grace Building
By Nicholas Rizzi September 14, 2021 2:13 pm
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Public relations firm Brunswick Group will move its New York City offices to the Grace Building, Commercial Observer has learned.
Brunswick Group signed a 15-year lease for 60,000 square feet for the entire 24th and 25th floors of Brookfield Property Partners’ 1114 Avenue of the Americas in Midtown, according to a source with knowledge of the deal. The source could not provide the asking rent, but asking rent in the property was $100 per square foot in 2019, as CO previously reported.
The U.K.-based PR firm currently has its NYC offices in nearly 37,000 square feet at 245 Park Avenue. It’s unclear when it plans to move to its new digs.
Newmark’s Brian Goldman and Matt Lorberbaum represented the Brunswick Group in the deal, while Ken Rapp and Peter Turchin of CBRE handled it for Brookfield.
Representatives for CBRE and Newmark declined to comment.
“A leading, global advisory firm, Brunswick Group is a perfect fit for the elite tenant roster at Grace,” said Duncan McCuaig, the senior vice president for leasing at Brookfield said in a statement. “The execution of this lease demonstrates the timeless desirability of this iconic asset with its magnificent views and state-of-the art spaces. We look forward to a long-term relationship with the Brunswick Group.”
Other tenants in the 49-story, 1.6 million-square-foot Grace Building include television network HBO, the Israel Discount Bank and office product designer Humanscale.
Update: This story has been updated to include a comment from Brookfield.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
