CBRE has announced the expansion of its Manhattan office at 200 Park Avenue.
The real estate service giant committed to an additional 44,612 s/f of office space on the 18th floor of the Midtown office tower. With the new six-year lease, the firm now occupies over 215,000 s/f of Class A office space at the property.
“Our expansion at 200 Park speaks directly to the success we have achieved in attracting top talent,” said Matt Van Buren, CBRE’s President, Advisory Services, for the Northeast Division.
“We are well-positioned to continue setting the benchmark for providing our clients with innovative and intelligent outcomes and building on our number-one market share in New York. In addition, this enables us to consolidate our Advisory Services business lines — now housed at 200 Park and One Penn Plaza — at one location – a long held goal – in order to foster collaboration, connectivity and partnership.”
Craig Reicher of CBRE handled the lease negotiations with Gus Field and Megan Sheehan of Tishman Speyer.
In addition, CBRE will be leaving its 140 Broadway location to occupy space at the new Hana location at 3 World Trade Center, which will open later this year.
“The Hana space will give our people a first-class office to work from when they are Downtown for meetings and client engagement, delivering an environment, services, amenities and location that will be hard to match,” said Van Buren.
200 Park Avenue, commonly referred to as the MetLife Building, is a 58-story property centrally located in the core of Midtown Manhattan’s prestigious office submarket above Grand Central Terminal at East 45th Street. 200 Park Avenue comprises over three million square feet of office and retail space, with an adjacent four-level parking garage. The property is currently undergoing a major redesign and renovation of the two-level, 50,000 square foot lobby and public areas.