Asset Manager Garda Expands to 12K SF Within 535 Madison Avenue

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Asset manager Garda Capital Partners has expanded its New York City offices to 12,275 square feet at 535 Madison Avenue, Commercial Observer has learned.

The firm signed a 10-year lease for the entire 34th floor of Park Tower Group’s 37-story building between East 54th and East 55th streets, according to the tenant’s broker, Newmark. The asking rent was $140 per square foot.

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Garda, which is headquartered in Minneapolis, currently has a 3,824-square-foot presence on the 21st floor of 535 Madison, which it will give up when it moves to its new digs, Newmark said.

“We are excited by the growth and expansion of Garda Capital Partners as this is the third transaction we completed with them,” Newmark’s Brent Ozarowski said in a statement. “They will remain in one of the preeminent buildings in Midtown and move to a full tower floor with outstanding natural light and views.”

Ozarowski represented Garda along with colleague Kevin Sullivan. CBRE’s Brian Gell and Laurence Briody handled the deal for Park Tower Group. A spokesperson for CBRE did not immediately respond to a request for comment.

Other tenants in the 480,000-square-foot 535 Madison Avenue include private equity firm Bain Capital, China Merchants Bank and Raymond James Financial.

Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.