1271 Avenue of the Americas/ Photo courtesy: Rockefeller Group
NEW YORK CITY—Rockefeller Group has reached 77% occupancy of 1271 Avenue of the Americas with H.I.G. Capital's leasing 57,829 square feet. The global private equity and alternative assets investment firm will move from 600 Fifth Ave. to occupy the entire 23rd floor and a portion of the 22nd floor in their new offices. The iconic skyscraper was the first building to be developed in the modern expansion of Rockefeller Center to the west side of Sixth Avenue.
Although additional terms of the lease were not disclosed, a source close to the deal tells GlobeSt.com that H.I.G.'s move is scheduled for Q4 2019 and asking rents in the building have ranged from $90 to $125 per square foot. In addition, the source notes that H.I.G. is substantially expanding its space, leasing approximately 32,000 square feet at its current Fifth Avenue location. Deals of this nature typically range 10 years or longer.
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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.
