Fujisankei Renews 21K-SF Lease at Tower 52 in Midtown East
By Mark Hallum July 26, 2023 2:08 pm
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Fujisankei Communications International isn’t budging from the Midtown East office tower it has leased for the last 30 years, Commercial Observer has learned.
The American arm of the Japanese media conglomerate renewed a 21,222-square-foot lease for 10 years on its New York City offices across three floors at the top of Princeton Properties’ 150 East 52nd Street, also known as Tower 52, according to Newmark (NMRK).
The brokerage did not disclose the asking rent in the deal, but Midtown had an average asking rent of $79.85 in the second quarter of 2023, a recent report from Newmark shows.
“Ownership’s long-term perspective and valued commitment to its credit tenants continues to bear fruitful, as evidenced by this latest transaction,” Newmark’s Fred Smith, who represented the tenant alongside Thomas Burrus, who left for JLL (JLL) in March, said in a statement.
Princeton Properties did not immediately respond to a request for comment.
Some of the companies in the Fujisankei portfolio are Fuji Television and Sankei Shimbun, a regional newspaper in Japan. Fujisankei also has offices in London, Paris, Cairo, Los Angeles and Washington, D.C. The lease on its New York City offices was set to expire in 2026.
The 300,000-square-foot office tower on East 52nd Street between Lexington and Third avenues was built in 1984 with designs by FXCollaborative before undergoing a series of infrastructure upgrades to install faster elevators as well as a 5,000-square-foot amenity center known as Lounge 52, according to Newmark.
Mark Hallum can be reached at mhallum@commercialobserver.com.
