JLL has completed three leases totaling 18,358 square feet of space at 330 Madison Avenue on behalf of MEAG, the asset management arm of building owner Munich Re and in partnership with EastBanc, asset manager for the property.
The leases are part of a campaign by ownership to engage tenants in the current economic environment, repositioning second-generation spaces to deliver deals with lower capex for both tenants and the property.
Gulf International Bank, which offers financial products, services and banking solutions to customers in the GCC, Europe and North America, signed a 10-year lease extension for 9,771 square feet on the 37th floor. ROX Systems, a technology company servicing the financial industry, will relocate to the property from Lower Manhattan in a five-year lease for 3,123 square feet on the 31st floor. Also relocating from Lower Manhattan is Roanoke Insurance Group, a property and casualty insurance agency, which has signed a five-year lease for 5,464 square feet on the 20th floor.
The JLL team representing MEAG and Munich Re included David Kleiner, executive managing director; Frank Doyle, vice chairman and international director; Clark Finney, managing director; and Georgina Cook, associate vice president. Gulf International Bank was represented by Jonathan Schindler, executive director, and by Aron Schreier, business development leader, Cushman & Wakefield. ROX Systems was represented by John Moran, managing director, Newmark. Roanoke Insurance Group was represented by Elliot Zelinger, managing director, Savitt Partners.
330 Madison Avenue is an 863,000-square-foot Class-A office tower located on the corner of 42nd Street in Midtown. The 39-story property, designed by architect Ely Jacques Kahn, was repositioned in 2012 with a new glass curtainwall façade, a new lobby and updated building systems. The repositioning achieved LEED Gold certification and earned the Building Owners and Managers Association 2012 Renovated Building of the Year award.