South Beach Diet
The 400,000 + office is currently known as the AIG-SunAmerica Building, however Rodale will receive naming rights once AIG's lease expires. In the meantime, Rodale retains secondary signage. The transaction's financial information was not released, but space in the site is currently advertised at $25 to $44 per sf.
To achieve contiguous office floors for Rodale, a restacking plan was put into place that involved four additional tenants: the National Multiple Sclerosis Society AIG-SunAmerica, Choice Logistics Inc., and Financial Federal Corp. NMSS will combine its headquarters operation with its New York City chapter and relocate to 39,000 sf on the third floor and a portion of the second floor, for a 17-year term. AIG-SunAmerica will surrender its third-floor lease. Previously, AIG-SunAmerica had sublet that space to Rodale under a short-term sublease. Once Rodale has relocated, this space will be used by NMSS. Choice Logistics, a customized transportation provider, will relinquish its space on the seventh floor and consolidate its operations on the fifth floor. Durst assumed NMSS's position as sub-landlord and will relocate FFC to the 24th floor, where it will occupy approximately 7,250 sf for five years.
Rodale was represented by the CB Richard Ellis team of Richard Karson, James Robbins and Harly Stevens, while Durst was repped in house by senior vice president of leasing Thomas Bow and assistant vice president Eric Englehardt. John Mambrino of Studley represented the National Multiple Sclerosis Society.
"Given this growth across our magazine, book and ancillary businesses, we needed to upgrade our office situation to meet current and future business needs," says Steve Kalin, Rodale's executive vice president and chief operating officer.
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