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Deals & Dealmakers

Colliers secures full-floor lease in Chrysler building

Colliers (NASDAQ and TSX: CIGI), the leading global commercial real estate services firm, announces it has secured a lease for Arena Investors, LP, a global institutional asset manager, for the entire 59th floor of the Chrysler Building. Colliers Managing Director David Kaplansky represented the tenant in the transactions.

One of the most iconic buildings in New York City, the Chrysler Building offers many amenities such as access to the Chrysler Club, an exclusive work and leisure space that provides a wealth of resources, including a boardroom, conferencing center, library, yoga and meditation room and game tables. Arena Investors has signed a five-year lease for the 9,200 square-foot 59th floor, which provides an abundance of natural light, open and collaborative work areas and private breakout spaces for employees. The space had an asking rent of $95 per square foot. Its prime Midtown East location directly across from Grand Central Terminal also makes commuting easy for employees.

To provide flexibility to many of the firm’s employees, Arena Investors also signed a five year lease in a Class A building located at 2500 Westchester Avenue in Purchase, New York. With its convenient location, employees will have access to I-287, Metro North trains and downtown White Plains from the new office. Arena Investors leased 4,000 square feet on the fourth floor for six years. The space had an asking rent of $35 per square foot. The four-story office building also offers amenities such as 24-hour access, a convenience store, dry cleaner, food court and private tenant-only gym for employees to enjoy.

“The famous Chrysler Building offers tenants countless advantages with its premier location, upgraded offices, array of amenities and, indisputably, the nicest 360 degree views of the city,” said Kaplansky. “We were pleased to have helped Arena Investors secure an entire floor in the building as well as a space located in Westchester County, to provide their employees with the option to work at a location closer to home.”

AJ Camhi, Paul Milunec and Rob Weller from RFR Realty represented the landlord for the Chrysler Building lease. Brian Carcaterra, Sheera Reimer and Mike McCall of CBRE represented the landlord for the lease at 2500 Westchester Avenue.

“We are thrilled to have Arena Investors in one of the building’s premier spaces with panoramic city views,” said Weller. “Their further commitment is a testament to the building’s highly convenient location and RFR’s vision as we continue to re-energize this architectural gem.”

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