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.
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