Armored Car Company Brink’s Takes 8K SF at 400 Madison Avenue
By Abigail Nehring March 22, 2024 12:49 pm
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Armored car provider Brink’s will move its Midtown office one avenue east to Daishin America’s 400 Madison Avenue.
Brink’s signed a five-year lease for 8,036 square feet on the seventh floor of the 22-story office building between East 47th and East 48th streets, landlord broker Cushman & Wakefield (CWK) announced.
Asking rent was $68 per square foot, said C&W’s Harry Blair, who arranged the deal for Daishin along with colleagues Lauren Hale and Michelle Mean.
Brink’s is headquartered in Richmond, Va., and has a New York outpost at 580 Fifth Avenue, according to its website and business analytics firm Dun & Bradstreet. It’s unclear if the company is expanding its footprint with the move to Madison Avenue.
“We are excited that a tenant of Brink’s caliber has chosen 400 Madison Avenue for its workplace,” Blair said in a statement.
The proximity to Grand Central Terminal, plus a new tenant lounge and conference center, were big draws for Brink’s, Blair added.
Brink’s is a global logistics firm with customers in more than 100 countries, but its roots date back to the 19th century when Perry Brinks founded the Chicago City Express Company, which transported goods using a fleet of wagons, according to the company’s website.
JLL (JLL)’s Kyle Young brokered the deal for Brink’s and did not immediately respond to a request for comment.
A handful of other firms have also recently signed deals with Daishin, a subsidiary of South Korean firm Daishin Securities, for space in the 200,000-square-foot Madison Avenue building, including Evertree Insurance, equity manager Tekne Capital Management, investment management firm Cipher Capital and property maintenance company Hogarth Davies Lloyd, as Commercial Observer previously reported.
Abigail Nehring can be reached at anehring@commercialobserver.com.
