Fisher Brothers and J.P. Morgan Asset Management announced that Fortress Investment Group, one of the world’s leading global investment management firms, has renewed and expanded its lease at 1345 Avenue of the Americas, a Midtown Manhattan office tower.
The new 15-year lease, which is effective in January 2017, encompasses 200,000 s/f, including the entire 23rd, 26th, 45th and 46th floors, as well as part of the 47th floor of the 50-story tower. At present, Fortress occupies a portion of the space through a direct lease, while the remaining space, which is currently subleased, will go direct in stages starting in 2017.
Fortress, which maintains 15 offices worldwide, including its global headquarters at 1345 Avenue of Americas, had $66 billion in assets under management as of September 30, 2014.
“Fisher Brothers is thrilled at the opportunity to extend our relationship with Fortress, a dynamic, top-tier financial firm whose AUM has more than doubled over the past five years,” said Fisher Brothers partner Kenneth Fisher. “All of us at Fisher Brothers and 1345 Avenue of the Americas are proud to be able to accommodate and support Fortress’ continued growth.”
Fortress was represented by Howard Grufferman, vicechairman of Colliers International. Fisher Brothers was represented in-house by Marc Packman.
Financial terms of the lease were not disclosed.
Located between 54th and 55th Streets, 1345 Avenue of the Americas is a 50-story, two-million square foot tower designed by Emery Roth & Sons, and owned by Fisher Brothers and an institutional investor advised by J.P. Morgan Asset Management. The tower boasts views of Central Park, an on-site garage, state-of-the-art security, and close proximity to Fortune 500 neighbors and some of the city’s finest hotels and restaurants, including Osteria del Circo, which is managed by the owners of New York’s famed Le Cirque. The adjacent Fisher Park offers respite and repose from the hustle of the Ziegfeld Theater and the bustle of Sixth Avenue.