Fisher Brothers announced that Jennison Associates, an asset management firm with over $224 billion in assets under management, has signed a 15-year, 120,809 s/f lease across four floors of Midtown Manhattan’s Park Avenue Plaza.
Currently located at 237 Park Avenue, Jennison Associates will take over the new space in 2023, which will allow time to build out the space for expected occupancy in late 2024/early 2025.
“We are excited to welcome Jennison Associates to Park Avenue Plaza. We understand this year has changed many of the patterns of our daily lives but Fisher Brothers’ commitment to our tenant experience, outreach and wellbeing hasn’t changed,.” said Ken Fisher, Partner at Fisher Brothers.
“Securing deals like Jennison and others throughout the past year is a testament to our unwavering dedication to our tenants and to the revitalization of New York City.”
“Fisher Brothers has exceeded our expectations and we are thrilled to call Park Avenue Plaza home for our next chapter of delivering investment performance for our clients,” said Kenneth Moore, Chief Operating Officer at Jennison Associates. “In these unprecedented times one thing is certain – in order to make our employees feel comfortable and safe working in the office, outstanding building ownership is a must.”
Park Avenue Plaza is one of the most cutting-edge office buildings in the Fisher Brothers portfolio, emphasizing sustainability and green technology and premium amenity and security offerings.
The 45-story tower, along with the rest of the New York City core commercial office portfolio, has earned a LEED Platinum certification and ongoing ENERGY STAR certification.
Park Avenue Plaza is equipped with advanced security to ensure tenant safety, with 24/7 manned building security, CCTV coverage of lobby, elevators, loading dock, perimeter and other key areas of the building, as well as keycard security gate access to tenant elevators, reflective of Fisher Brothers’ commitment to offering best-in-class amenities and security measures to ensure their tenants are comfortable and safe.
Marc Packman, Head of Leasing and Clark Briffel and Charles P. Laginestra, Directors of Leasing at Fisher Brothers and Howard Fiddle, Peter Turchin, Christie Harle, Roger Griswold, and Benjamin Joseph of CBRE led negotiations on behalf of the owner. Jennison Associates was represented by Edward M. Lederman of CBRE.