NEW YORK CITY-Liquor giant Diageo North America, whose brands include Guinness and Johnnie Walker, has leased 56,156 square feet at the Moinian Group’s 530 Fifth Ave., taking the entire fourth and part of the third floor in a five-year deal. Diageo, which is headquartered in Norwalk, CT, will use the space for marketing offices, Newmark Knight Frank associate director Jordan Gosin tells GlobeSt.com. Howard Kesseler, a senior managing director at Newmark, adds that the Manhattan offices will not replace the Norwalk space.
Kesseler and Gosin represented Moinian along with Newmark EVP and principal Brian Waterman. Their Newmark colleague, EVP and principal Scott Klau, represented Diageo along with CLW Real Estate Services Group’s Joe Garvey represented the tenant.
Built in 1956, the 502,000-square-foot 530 Fifth was acquired by Moinian in 2004 from Silverstein Properties Inc. for $210 million. Other office tenants there include JPMorgan Chase, Massachusetts Mutual Life Insurance Co. and Time Inc.
In another full-floor deal at a Midtown property that’s currently in the SPI portfolio, financial services firm Janney Montgomery Scott has inked a 22,237-square-foot renewal and expansion at 575 Lexington Avenue. The deal is for seven years and encompasses the tower’s entire 15th floor.
SVPs Jimmy Wenk and Paul Formichelli of Jones Lang LaSalle represented Janney Montgomery Scott, which sought additional space to accommodate growth. Roger Silverstein and Jeremy Moss provided in-house representation for SPI. Previously, the tenant occupied 16,000 on the 34th and 35th floors at 575 Lex.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
