Cushman & Wakefield arranged a long-term lease renewal at 250 Park Avenue for Pernod Ricard USA, a producer and marketer of some of the nation’s most prestigious spirits and wine brands.
PR USA will continue to use the entire 16th and 17th floors of the property, comprising 48,722 s/f as its U.S. headquarters.
250 Park Avenue, a LEED-Certified Gold property, is located on the westerly block front between 46th and 47th Streets.
PR USA’s space features unique amenities including a custom luxury bar and two large terraces overlooking Park Avenue.
“We are delighted Pernod Ricard USA extended its commitment to 250 Park Avenue,” said David L. Hoffman, Jr. of Cushman & Wakefield.
“The company’s two-floor headquarters features beautifully designed, highly improved office space, offering Park Avenue elegance with efficient, high-density layouts, excellent light and views.”
PR USA’s premises features an eclectic lounge environment – consistent with Pernod Ricard USA’s convivial culture – with furniture enabling employees to sit and work in different areas.
250 Park Avenue has completely updated its infrastructure to include a new HVAC system, fiber-optic phone lines, new elevator mechanicals and cabs and a modern new lobby that will be completed this Spring.
Located steps from Grand Central Terminal, 250 Park Avenue offers exceptional access to public transportation including Metro North and multiple subway lines, including the 4, 5, 6, 7 and S trains. The neighborhood features an abundance of retail, dining and hospitality options within walking distance.
A Cushman & Wakefield team of David L. Hoffman, Jr., Robert L. Billingsley and Whitnee Williams represented the landlord, AEW Capital Management, in the transaction. The tenant was represented by David Falk, Greg Frisoli and Alex Leopold of Newmark Knight Frank.