Broker-dealer to occupy entire 17th floor at Class A office building
NEW YORK, January 31, 2010 — Jones Lang LaSalle has completed a new direct lease for building owner 650 Fifth Avenue Co. with Cortview Capital Securities Inc. at 650 Fifth Avenue. The broker-dealer signed a five-year lease for 10,793 square feet at the Class A, 395,000-square-foot office building.
The building owner was represented by James P. Quinn, managing director, along with Gary Youm, senior vice president, and Randy Abend, vice president, all with Jones Lang LaSalle’s New York office. The tenant was was represented by Larry Zuckerman, senior managing director, with Grub & Ellis Co.
“Cortview Capital is a newly established company that was searching for permanent offices in Midtown that would be appropriate for its client base and image,” said Quinn. “We were able to obtain a full floor of office space for the financial services firm in one of Midtown’s premier office buildings, with existing high-tech infrastructure well-suited for its business operations.”
Cortview Capital Securities will occupy the entire 17th floor at 650 Fifth Avenue, which is located between West 51st and West 52nd streets. The broker-dealer is relocating to the property from temporary offices in Manhattan.
Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2009, the New York tri-state team completed approximately 21 million square feet in lease transactions, concluded property sales transactions valued at more than $1.75 billion, managed projects valued at more than $4 billion, and oversaw a property and facilities management portfolio of 76 million square feet.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
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