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Deals & Dealmakers

Design firm Stantec takes four floors at TIAA-CREF’s 475 Fifth Avenue

Design firm Stantec consolidated its New York City offices at TIAA-CREF’s 475 Fifth Avenue in Midtown.

The firm, which had five locations across the city, took four floors for a total of 63,462 s/f. Its new offices cover the sixth, seventh, eighth and 12th floors. Nearly 360 employees – architects, engineers, interior designers and landscape architects – will be housed in the location. The firm vacated its four other offices in Manhattan, located at 50 West 23rd Street, 111 John Street, 315 Park Avenue South and 1350 Broadway.

“Our business objective is to be a top-tier integrated design services provider, wherever we operate,” said Tom Walsh, Stantec’s Northeast regional leader. “Our new location gives us a great physical platform to embark on this next exciting chapter.”

The property is located across from Bryant Park. TIAA-CREF, which provides financial services for teachers and academics, acquired the property for $144 million in 2011. Other tenants in the building include Pinterest, investment firm Torchlight Investors, publishing firm Penske Media and Square 1 Bank. Japanese design store Muji occupies the ground floor retail space.

In July of last year, Stantec signed a 32,000 s/f lease for the seventh and eighth floors of the 24-story building. However, the firm already occupied the tower’s 12th floor before the transaction. This was due to its acquisition of VOA Architecture in May of that year, which allowed Stantec to take over VOA’s 15,375 s/f lease in the building. Stantec also has offices in Albany, Rochester, Binghamton, Hauppauge and Buffalo.

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