Bovis Lend Lease Renews MetLife Lease

NEW YORK CITY-Bovis Lend Lease has signed a lease renewal to keep its US headquarters at the MetLife Building, 200 Park Ave. The 15-year lease is for the entire ninth floor of the building, which totals more than 75,000 sf. Though the financial arrangements of the lease were not released, the direct lease figure for comparable Grand Central Station-area class A space was $51.04 per sf at the end of May, according to a recent market report.

Bovis has been a tenant of the MetLife Building since 1992 and the current lease was due to expire within the next year. Established in 1979, the New York office, home to Bovis Lend Lease LMB Inc. and Bovis Lend Lease Interiors Inc. provides customized planning and construction services. The New York office’s 650+ professionals have managed projects including the Ritz-Carlton Hotel & Residences Downtown, 731 Lexington Ave., 455 Central Park West and Long Island Jewish Medical Center. Currently under management is the AOL Time Warner Center.

The new lease was negotiated on behalf of Bovis Lend Lease by its broker, Julien J Studley, which was represented by Mitchell S. Steir, Michael D. Colacino, Matthew P. Barlow, David J. Goldstein and Greg B. Taubin. Keith Caggiano, Jon Zuckerman and Stephen B. Siegel of Insignia/ESG represented MetLife.