"This is Aslan's second investment in New York City in a year and clearly indicates our interest in 24/7 markets with high barriers to entry where we plan to establish a greater presence, says TIC CEO Stephen R. Quazzo. Average office rents in the building were recently reported at more than $44 per sf.
Last year, Alsan acquired eight office buildings with 2.4 million sf as well as 20 retail and mixed-used retail and office properties and nine service center/flex properties. One of those acquisitions was 360 Lexington Ave., a 250,000-sf, 24-story office building, also in New York's Grand Central district. TIC manages more than $2.2 billion in US commercial real estate.
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