NEW YORK CITY-Paramount Group has tapped Jones Lang LaSalle as the exclusive commercial leasing agent for 1325 Ave. of the Americas. The 786,000-square-foot Midtown property is Class A space.
JLL's Frank Doyle, vice chairman, is overseeing the leasing assignment. Also on the case are David Kleiner and Douglas Neye, senior vice presidents. The group will work in concert with Paramount's Ted Koltis, senior vice president, and Peter Brindley, vice president.
Constructed in 1989 and situated between 53rd and 54th streets, the building has about 222,000 square feet available for lease, including a block of space totaling 120,000 square feet. In addition, the 34-story property features column-free floors that permit up to eight corner offices each.
The tenant history of the site is an interesting one. There are several ties, in particular, to the entertainment industry. Movie and television production firm Warner Brothers has several floors there, including a screening room, and storied talent agency William Morris Endeavor (formerly the William Morris Agency) also has a presence there, according to JLL officials. The edifice has appeared on television as well: it was shown as the offices of a company for which Elaine Benes' worked on the situation comedy Seinfeld, reports emporis.com.
JLL executives are pleased about the assignment, particularly since the company is working on leasing another one of Paramount's buildings.
“There are very few office buildings of this caliber that can offer a better value for space users,” says Doyle. “We presently have a successful agency relationship with Paramount Group working on its 900 Third Avenue leasing program. We are delighted that Paramount Group has tapped us again to work with its leasing team on a trophy building such as 1325 Avenue of the Americas.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
