X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-International law firm Akin Gump, which specializes in lobbying and intellectual property cases, has expanded its New York headquarters space by another full floor, upping its number of elevator stops at the IBM tower to seven.

Akin will occupy the 25,000-sf 27th floor of the 43-story office building. Prior tenant Post Bank AG is consolidating its space in the building. Cushman & Wakefield senior director John Isaacs arranged PB Capital’s lease termination, allowing Akin Gump to negotiate a 12-year direct lease at the 590 Madison Ave. property.

PB Capital, formerly BHF Capital, is consolidating its offices from the entire 27th through 30th floors of the building, to part of the 29th and the entire 30th floor. C&W’s Isaacs is marketing the entire 28th floor and 15,000 sf on the 29th floor, the remaining space vacated by sublessor PB Capital. Asking rents are $80 per sf, according to Isaacs.

Located 590 Madison Ave. between 56th and 57th streets, the 1,030,000-sf IBM Tower was built in 1982 and is owned by EJM Equities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.