Investment Firm Francisco Leases 17K SF at 1155 Avenue of the Americas

Technology investment firm Francisco Partners is growing its Midtown offices, Commercial Observer has learned.

Francisco, which provides capital and partnership to tech companies, has signed a 10-year lease for 17,246 square feet to move its office to the 37th floor of the Durst Organization’s 1155 Avenue of the Americas, according to a source with knowledge of the deal. Asking rent was $110 per square foot.

The deal represents an expansion at the 40-story tower for Francisco, which took 10,985 square feet across most of the 28th floor in September 2022, as Commercial Observer previously reported.

Newmark (NMRK)’s Eric Cagner and David Falk brokered the deal for the tenant, while Durst was represented in-house by Rocco Romeo.

Newmark declined to comment, while spokespeople for Francisco and Durst did not immediately respond to requests for comment.

Other tenants of the building between West 44th and West 45th streets include insurance and reinsurance firm Everest, insurance and financial services company IMA Financial Group and software company Global Relay.

The news comes as Francisco announced a major deal this week to acquire software company Quorum Software from Thoma Bravo, the Wall Street Journal reported. The deal values Quorum, which provides energy software for the oil and gas industry, at $2.4 billion, according to the WSJ.

Durst, meanwhile, has also been active recently. In January, Durst was set to sell its 32-story Midtown office building at 675 Third Avenue to David Werner Real Estate Investments for more than $100 million, as CO previously reported.

The site may become another office-to-residential conversion, as Werner is already at work on another major conversion project at the former Pfizer headquarters in Midtown East at 219 and 229 East 42nd Street.

Isabelle Durso can be reached at idurso@commercialobserver.com.