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NEW YORK CITY-Cushman & Wakefield will relocate its World Headquarters to 1290 Avenue of the Americas. The firms signed a 15-year lease for 156, 282 sf at the class-A office, located on the eastern block front between 51st and 52nd streets.

C&W currently occupies approximately 155,000 sf on nine floors at 51 W. 52nd St. The firm will occupy the entire seventh floor, along with portions of the eighth and ninth floors in the fourth quarter of 2009, C&W tells GlobeSt.com. C&W sources could not give out aggregate lease values, taking rents, or asking rents of 1290 Avenue of the Americas at this time.

According to CB Richard Ellis’ research, asking rent for the building is $95.79 per sf and the submarket average asking rent is $102.42.

Cushman & Wakefield vice chairman Franklin Speyer and senior director Amy Fox led the firm’s site search and lease negotiations with the landlord of 1290 Avenue of the Americas, Vornado Realty Trust. Vornado was represented in-house by Glen Weiss and Tom Costanzo. Costanzo did not return GlobeSt.com queries by deadline.

More than 500 employees are located in Cushman & Wakefield’s World Headquarters. “We look forward to our move to 1290 Avenue of the Americas, and to the creation of a more efficient and collaborative workplace,” says Bruce Mosler, president and CEO of C&W, in a prepared statement. “The building’s large floor plates will allow for an open environment, fostering communication among our employees and various service lines.”

Totaling approximately two million sf, 1290 Avenue of the Americas was built by architect Emery Roth & Sons. The class-A building’s 43 floors include 1.8 million sf of office space, with major tenants, including AXA Equitable Life Insurance Co., Microsoft, Morrison & Foerster and Bryan Cave.

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