NEW YORK CITY-A deal with several moving parts has culminated inthe United Nations Population Fund signing up for 130,740 squarefeet in a 15-year lease at Fisher Brothers’ 605 Third Ave. Theinternational development agency will move from the Daily NewsBuilding at 220 E. 42nd St. in October.

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The population fund—also known as UNFPA, or the United NationsFund for Population Activities, its original name—wasn’t looking torelocate, says Colliers International principal Andrew Roos, in arelease. However, “they were able to take advantage of a uniqueopportunity that they simply could not turn down, both for thefinancial considerations and quality of the space. Not only is thespace in excellent move-in condition, with new furniture that suitstheir needs, but the move allows UNFPA to house its vast workforceon three contiguous floors.”

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Originally, the 605 Third space that UNFPA will soon occupy wasleased to the Nielsen Co., which never used it. Nielsen sublet thespace to Pfizer, represented by Pat Murphy and James Ackerson of CBRichard Ellis. But Pfizer sublet the space back to the landlordwith seven-and-a-half years remaining, and Fisher Bros. leased thespace directly to the UNFPA and added seven-and-a-half years. Thefact that Pfizer left the installation in move-in condition willsave the agency the time and expense of building out its new space,according to a release.

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Although there were “some rent considerations,” says Roos,Fisher Brothers “recognized the benefits of having UNFPA occupy alarge floor plate in the building.” Roos arranged the deal onbehalf of UNFPA, while Fisher Bros.’ Jack Whalen provided in-houserepresentation for the landlord.

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Lease terms were not disclosed; asking rents for comparableproperties in the area range from the $40s to low $50s per squarefoot. The UNFPA is the latest in a series of100,000-plus-suqare-foot deals announced this week. The pendingdeal was first reported in the New York Post on July15.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.