CBRE is taking an additional 44,612 square feet at its Manhattan office located 200 Park Ave. With the new six-year lease, the firm now occupies over 215,000 square feet of office space at the property.
One benefit of the expansion, says Matt Van Buren, CBRE's President, Advisory Services, for the Northeast Division, is that it enables CBRE to consolidate its Advisory Services business lines — now housed at 200 Park and One Penn Plaza — at one location.
Craig Reicher of CBRE handled the lease negotiations with Gus Field and Megan Sheehan of Tishman Speyer.
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CBRE will be leaving its 140 Broadway location to occupy space at the new Hana location at 3 World Trade Center, which will open later this year.
200 Park Avenue, commonly referred to as the MetLife Building, is a classic 58-story property centrally located in the core of Midtown above Grand Central Terminal at East 45th Street. 200 Park Avenue comprises over three million square feet of office and retail space and is currently undergoing a major redesign and renovation of the two-level, 50,000 square foot lobby and public areas.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
