Jamestown Managing Director Jeff Ackemann says it is "extremely difficult to find a building that can rival 1211's tenant roster, location and sheer size." He tells GlobeSt.com that now is "the perfect time" to sell the asset. Originally Jamestown had intended to hold it for a few more years as it repositioned the tower, but that effort was accomplished sooner than anticipated.
The Atlanta-based firm has hired Douglas Harmon and Adam Spies of Eastdil Secured to market the 45-story, 1.95 million-sf office. Eastdil will begin its marketing effort later this month. There is no set asking price.
The 99%-leased tower is home to the world headquarters of News Corp., which has extended its lease to 2020. Also on the tenant roster are Ropes & Gray, JP Morgan Chase, Morgan Stanley, Wachovia Securities, WestLB, CIT and RBC Dain Rauscher.
Located between 47th and 48th streets, 1211 Avenue of the Americas was designed by Harrison, Abramovitz & Harris. It was completed in 1973.
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