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Deals & Dealmakers

Columbia Property Trust Signs Full Floor Lease with Cadre at 315 Park Avenue South

 Columbia Property Trust, Inc. announced today that it has secured a full-floor lease with Cadre at 315 Park Avenue South, its 20-story boutique office building just off Madison Square Park in Manhattan’s Midtown South neighborhood.

Cadre is a groundbreaking technology-driven real estate investment platform geared toward both institutional and individual investors.  Under the new 10-year lease, Cadre will establish its headquarters across 315 Park Avenue South’s 17,050 square-foot seventh floor in fall 2022.  The firm is relocating from the Puck Building at 295 Lafayette Street.

After acquiring 315 Park Avenue South in 2015, Columbia completely transformed the 331,000-square-foot tower into a best-in-class office destination in one of Manhattan’s most popular office districts, and it has continued to attract prominent firms seeking the energy of Midtown South and a premium Class A office experience.  With the Cadre signing, the building is 97 percent leased to an impressive roster of prominent tech and financial tenants, including financial data platform PitchBook, cryptocurrency exchange Gemini Trust, and Amazon’s interactive streaming service, Twitch.

“We are pleased to welcome Cadre – yet another cutting-edge technology company choosing 315 Park Avenue South as its home,” said Columbia Property Trust Executive Vice President, Dave Cheikin.  “We have continued to experience strong demand from prominent financial, tech and creative brands that understand the importance of providing their teams with a premium workplace environment in the heart of a vibrant neighborhood.”

“Our mission at Cadre is to make commercial real estate more accessible to more individuals, and coming off our strongest quarter to date, Cadre requires a flagship office that can accommodate the pace and expansion of our business as we begin a new chapter of growth. The location, space, and amenities at 315PAS are a great fit for our growth and culture,” said Cadre Founder and CEO Ryan Williams. “As evidenced by our most recent property sales, we are convinced that strong partners are critical to every successful investment. Columbia Property Trust has proven to be an excellent partner during this exciting phase for our business and, from their state-of-the-art location, we look forward to improving financial futures for even more individuals.”

Columbia’s initial renovation of the century-old building celebrated its classic exterior architecture while fully modernizing the building systems, and Columbia has continued to invest in technology and operating enhancements that emphasize occupant health, wellness, and safety.  As a result of these efforts, 315 Park Avenue South has earned ENERGY STAR, Fitwel®, LEED Gold, and WiredScore Platinum certifications, and Columbia’s headquarters office, which opened in the building in 2020, subsequently achieved LEED Gold Interior Design and Construction and ENERGY STAR Tenant Space Certification in 2021.

Tenants at 315 Park Avenue South enjoy exclusive access to Columbia Gateway, a mobile app built on the leading HqO mobile technology platform designed to help them get more out of their workspace. Onsite amenities at the building include an Equinox Gym and Amazon Go convenience store, and it also provides exceptional transit access and walkability to Madison Square Park, Gramercy Park, and a wealth of upscale food options, hotels, and shopping.

Steven Rotter and Justin Haber of JLL represented Cadre.

Current availabilities are now marketed by David Falk, Peter Shimkin, Jonathan Fanuzzi and Alex Leopold of Newmark.  For additional information, please visit 315pas.com/.

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