Firm to lease, market 613,664-SF, 21-floor, Class A office building
NEW YORK, NY – March 9, 2011 – (RealEstateRama) — Jones Lang LaSalle has been selected by Shorenstein Realty Services LP as exclusive leasing agent for 850 Third Avenue, also known as the Discovery Building. The company will be responsible for commercial leasing and marketing efforts at the 613,664-square-foot, Class A office building.
The Jones Lang LaSalle team overseeing the leasing assignment at 850 Third Avenue is led by Mitchell Konsker and Matthew Astrachan, vice chairmen, and includes Jonathan Tootell, vice president.
“Shorenstein Realty is moving its New York corporate office into its recently acquired office property,” said Konsker. “The building owner has completed a renovation program at 850 Third Avenue, with the work including a new lobby and vestibule. In addition, 850 Third Avenue is located just a block away from the 53rd Street Station, which offers direct access to Grand Central Terminal, Port Authority Bus Terminal and Penn Station all from one subway line.”
The 21-story, 613,664-square-foot 850 Third Avenue is located between East 51st and East 52nd streets in Midtown Manhattan. The office tower has approximately 60,000 square feet of office space available in blocks that range from 4,000 square feet to 30,000 square feet.
“Shorenstein maintains a high degree of confidence in the Jones Lang LaSalle team of Mitch, Matt and Jonathan,” said Kevin Kuzemchak, senior vice president with Shorenstein. “We’ve experienced tremendous success repositioning the asset and leasing more than 140,000 square feet during the past year and a half through an extremely difficult environment. That is a direct result of Shorenstein’s commitment to improve the asset and this leasing team’s dedication, focus and market expertise.”
Area landmarks include the United Nations, Grand Central Terminal, Central Park, Rockefeller Center, and the Fifth Avenue and Madison Avenue retail corridors. The Discovery Building offers excellent access to public transportation that allows tenants to draw employees from all of the major transportation hubs 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 2010 global revenue of more than $2.9 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 1.8 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 more than $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
Contact:
George Shea, Mark Faris
Shea Communications Inc.
Phone: +1-212-627-5766
Email: mfaris (at) sheacommunications (dot) com
