NEW YORK CITY—Fortress Investment Group has renewed and expanded its lease at 1345 Ave. of the Americas, a Midtown office tower owned by Fisher Bros. and an institutional investor advised by JP Morgan Asset Management.
The new 15-year lease—which goes into effect next January—encompasses 200,000 square feet, including the entire 23rd, 26th, 45th and 46th floors, as well as part of the 47th floor of the 50-story tower. Currently, Fortress occupies a portion of the space through a direct lease, while the remaining space, which is subleased, will go direct in stages starting in 2017.
Fortress was represented by Howard Grufferman, vice chairman of Colliers International, in the transaction. Fisher Bros. was represented in-house by Marc Packman.
“Fisher Brothers is thrilled at the opportunity to extend our relationship with Fortress, a dynamic, top-tier financial firm whose AUM has more than doubled over the past five years,” says Fisher Brothers partner Kenneth Fisher. “All of us at Fisher Brothers and 1345 Ave. of the Americas are proud to be able to accommodate and support Fortress' continued growth.”
Located between 54th and 55th streets, 1345 Avenue of the Americas is a 50-story, two-million square foot tower. The adjacent Fisher Park provides a serene public space.
Fortress, which maintains 15 offices worldwide, including its global headquarters at 1345 Avenue of Americas, had $66 billion in assets under management as of Sept. 30, 2014.
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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.
