Mitsui Fudosan America (MFA), the U.S. operations of Japan’s largest real estate company, announced that Akerman LLP has signed a 100,000 s/f lease at 1251 Avenue of the Americas.
Akerman will occupy the entire 37th and 38th floors and partial 35th floor of MFA’s flagship tower.
The move is an expansion in office space from Akerman’s current office at 666 Fifth Avenue. The space will allow Akerman to accommodate up to 185 lawyers in the New York office, which has grown from seven to 126 lawyers since the office opened 12 years ago.
“Akerman is among the most forward-thinking law firms in the industry and we are delighted to welcome them to 1251 Avenue of the Americas,” said Christopher N. Perez, senior vice president of MFA. “We continually improve 1251 through capital investments and operational upgrades in order to maintain its standing as one of the finest office buildings in New York City. Akerman’s commitment affirms our confidence in the property as the heart of the Sixth Avenue corporate corridor.”
“Increasing client demand drives the firm’s strategic growth, and as our New York office continues to build capacity, 1251 Avenue of the Americas is an exceptional location to accommodate our expanding needs,” said Andrew Smulian, Akerman chairman and CEO.
“Our New York office, the firm’s second largest, grew aggressively this year with a number of top-tier laterals reflecting a range of important client sectors. Our new space will allow us to continue our growth trajectory in what continues to be a vital market for Akerman and our clients.”
Last year, Akerman more than doubled its physical footprint at 71 South Wacker in Chicago to accommodate the firm’s rapid growth in the region. In 2017, the company relocated to The CalEdison DTLA in the Financial District. Akerman also relocated its largest office in 2016 to downtown Miami’s Brickell City Centre.
At 1251 Avenue of the Americas, the Am Law 100 firm will join a roster of tenants that includes MUFG Union Bank, DLA Piper, Trust Company of the West, Sandler O’Neill, Mizuho Corporate Bank, Waterfall Asset Management, ICSC, Lowenstein Sandler, Berenberg Capital Markets and Rothschild, Inc., among other well-known names in the financial, legal and real estate industries.
“Akerman’s decision to choose 1251 Avenue of the Americas for its New York office speaks volumes about the quality of the building,” said David Falk, president, New York Tri-State Region, of Newmark Knight Frank (NKF), who represented MFA along with Executive Managing Director Peter Shimkin.
“Sixth Avenue remains one of the most dynamic and amenity-rich neighborhoods in Manhattan, qualities that we believe Akerman will appreciate for years to come,” Falk added.
The transaction brings 1251 Avenue of the Americas, one of the city’s premier office towers, to 98 percent occupancy. The property features column-free floorplates, full-height windows, and a robust infrastructure. 1251 Avenue of the Americas is world famous for its two-tiered reflecting pool that features gigantic holiday ornaments at this time of year, and the meticulously landscaped plazas that surround it on all sides.
NKF is the exclusive leasing agent for 1251 Avenue of the Americas. JLL Managing Director Matthew Cheezem, Vice Chairman Ken Siegel and Vice Chairman Lisa Kiell represented the tenant in the transaction.