Monday Properties and Invesco, owners of 230 Park Avenue, announced today that it has signed a new lease with Reed Elsevier, the global professional information firm, at 230 Park Avenue.
Known for its many industry leading publications and information platforms, Reed Elsevier will occupy the entire seventh floor at 230 Park Avenue, comprising 71,083 s/f. The company’s Lexis/Nexis information service is relocating its New York operations from 125 Park Avenue.
Monday Properties’ project management team will build out the space for Reed Elsevier with an efficient open plan featuring extensive collaborative areas.
The 10-year, Reed Elsevier lease transaction follows on the heels of 250,000 square feet of leasing activity at 230 Park Avenue since first quarter 2013. Reed Elsevier was represented by John Cefaly, Kevin Daly and Clark Finney of Cushman & Wakefield. Monday Properties was represented in-house by Jordan Berger, together with the 230 Park Avenue co-agency team from Jones Lang LaSalle; Frank Doyle, Jonathan Fanuzzi, Paul Glickman, and David Kleiner.
Brian Robin, President of Monday Properties, said, “230 Park Avenue provides tenants with a great location and our ownership team understands the needs of large and small tenants alike. The lease is yet another in a long series that follows our simple approach to leasing: Help tenants use their real estate as a vehicle for better operations, not as a distraction from their core business.”
The 34-story tower, located between 45th and 46th Streets, comprises 1.4 million square feet of Class A office space and is surrounded by Midtown’s finest restaurants, boutiques and hotels. 230 Park Avenue is a LEED-EB Gold certified building and overlooks Park Avenue and Grand Central Terminal. 230 Park Avenue offers full floor opportunities in the building; both at the base with a 70,000 SF floor plate and in the tower, providing a 21,000-square-foot floor plate.
