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Estee Lauder Co. Signs New 15-Year Lease for GM Building HQ

NEW YORK CITY-In one of the last transactions to be announced by CB Richard Ellis and Insignia/ESG as two separate companies, the firms respectively represented both the landlord and tenant in Estee Lauder's 310,000 sf lease renewal in the GM Building.

By Barbara Jarvie | Updated on July 18, 2003

NEW YORK CITY-Cosmetics powerhouse the Estee Lauder Cos. Inc has inked a 15-year lease renewal for 310,000 sf of headquarters space at the General Motors Building, 767 Fifth Ave. Estee Lauder, which occupies several floors in the building and was one of its original tenants, had been searching for new headquarters space for more than three years. The new lease will take effect upon the expiration of the existing lease in April 2005. No financial details regarding the transaction were released, but other properties in the building range from $95 to $115 per sf.

The Insignia team of Gregory Tosko, Ken Meyerson, Scott Gottlieb, and Matthew Wolfson represented Estee Lauder, while CBRE’s Mary Ann Tighe, Craig Reicher and Megan Sheehan acted for the landlord. This one of the last transactions to be announced by the pair as two separate companies. Their merger is expected to be completed within days.

“The Estee Lauder team performed an exhaustive search of alternatives in the market over the course of the past three years,” says Tosko.

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