To complete the transaction, the American Institute of Certified Public Accountants moved to a different floor in the site subleasing JP Morgan space. Cushman and Wakefield, which worked on the transaction on behalf of the building owner, could not comment on the deal. C&W brokers on the deal were Mitch Arkin, John Picco, John Gray and Peter Van Duyne. CB Richard Ellis represented News America.
"This deal took over a year," David W. Levinson, vice-chairman of CBRE, tells GlobeSt.com, because it involved multiple parties as well as the negotiation of additional naming rights on the property. Levinson says he expects there to be many "exciting things happening in the building. It was a very positive expansion."
The 45-story, 1.9-million-sf tower, also known as 1211 Avenue of the Americas, anchors the southwest corner of Rockefeller Center. At its 1973 opening, it marked the completion of a westward expansion that began with the Time & Life Building and more than doubled Rockefeller Center's rentable office space. The site was completely renovated in 1991. The Rockefeller Group developed the building as headquarters for the Celanese Corp., and sold its interest in 1980. The building was purchased in 2000 by Jamestown Corp., with Rockefeller establishing a minor equity interest through Jamestown.
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