300 Park Ave./ Photo credit: Tishman Speyer
NEW YORK CITY—Colgate-Palmolive restructured and extended its 241,657-square-foot lease maintaining its headquarters at the Tishman Speyer skyscraper that has adopted its anchor tenant's name. Known as the Colgate-Palmolive Building, the 26-story tower at 300 Park Ave. stands between E. 49th and E. 50th streets.
The well-known household and consumer products company will be lowering its real estate rental costs and consolidating onto six floors.
CBRE's Mary Ann Tighe, Mike Geoghegan, Ken Meyerson and Ariel Ball negotiated the new lease terms on behalf of Colgate-Palmolive. Tishman Speyer was represented in-house.
CBRE and Colgate-Palmolive did not provide additional details regarding the lease terms, including the length or asking rent by the filing deadline of this article. Tishman Speyer declined to comment. This article will be updated if additional information is obtained.
Originally built in 1955, the office building has 773,056 rentable square feet. In 1998, the interiors underwent a substantial capital improvement program and in 2008 the façade was renovated.
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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.
