SVB Securities Expands by 68K SF at 1301 Avenue of the Americas
By Rebecca Baird-Remba May 12, 2022 6:56 pm
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SVB Securities, an investment bank focused on healthcare and technology, has expanded at 1301 Avenue of the Americas, landlord Paramount Group announced.
The financial firm has leased 68,183 square feet on the entire fifth floor, bringing its entire footprint in the building to 139,176 square feet, according to Paramount.
“We are delighted that SVB Securities has once again chosen 1301 Avenue of the Americas to satisfy their occupancy needs as the company continues to execute on its growth strategy,” said Peter Brindley, executive vice president and head of real estate at Paramount. “This transaction further reduces the former Barclays block availability and preserves our ability to offer a branded building within a building opportunity for a tenant that leases the three remaining contiguous base floors totaling 200,000 square feet.”
Brindley handled the transaction along with his colleagues Douglas Neye and Sean Kirk. Paramount did not disclose the terms of the deal or the tenant brokers.
The 45-story, 1.7 million-square-foot building between West 52nd and West 53rd streets is known as the Crédit Agricole CIB Building for its anchor tenant, French bank Crédit Agricole. The financial institution shrunk its space in the building in 2021 to 167,000 square feet, as CO reported at the time.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
