Nexstar Media Subleasing 68K SF from CohnReznick at 1301 Avenue of the Americas
By Mark Hallum February 5, 2024 12:48 pm
reprints
Nexstar Media Group is subleasing 68,114 square feet from tax advisory firm CohnReznick at 1301 Avenue of the Americas, according to subtenant broker Avison Young.
Nexstar, a Texas-based media group that specializes in televising local programming, will relocate from 685 Third Avenue to the seventh floor of Paramount Group’s building at West 53rd Street, according to Avison Young’s Peter Gross.
Gross declined to provide the asking rent or the length of the lease. But asking rent in the building was $84 per square foot in a January deal, as Commercial Observer previously reported.
JLL (JLL)’s Scott Panzer, Gregg Metcalf and Shannon Rzeznikiewicz represented CohnReznick.
CohnReznick moved into the building from 1212 Avenue of the Americas in January 2015 after signing a 125,000-square-foot lease. It’s unclear how much space the tax firm now occupies and if it’s trying to sublease more, but a spokesperson for the company said it consolidated space in the property to “support the firm’s hybrid work mode.”
Law firm Smith Gambrell Russell has been a tenant in the building for about a decade. In January, the firm expanded its footprint and moved into 41,000 square feet for 10 years on the entire 15th floor.
Another law firm, O’Melveny & Myers, downsized its office footprint by about 8,000 square feet in September 2022 when it relocated to 142,000 square feet.
Mark Hallum can be reached at mhallum@commercialobserver.com.
