NEW YORK CITY—Columbia Property Trust is leasing two full floors, 34,100 square feet of office space for 11 years and four months at 315 Park Ave. So. to PitchBook Data, Inc., a subsidiary of Morningstar, Inc. A source close to the transaction says the asking rent was $92 per square foot.
In 2015, Columbia bought the 20-story, 334,000 square-foot office building, located at Park Avenue South and the corner of 24th Street in the heart of Midtown South, for $368 million, according to Real Capital Analytics. Originally constructed in 1910, the building is now 84% leased.
Relocating in May from their current office at 155 Fifth Ave., a building originally constructed in 1900, PitchBook will fully occupy the 13th and 14th floors in their new building location. A property-wide renovation to reposition the Park Avenue South property is underway and near completion.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
