Cushman & Wakefield’s David L. Hoffman Jr., vice chairman and Judd McArthur, senior vice president, represented Citizen Relations in its planned relocation from 415 Madison Avenue to SL Green’s 600 Lexington Avenue.
The public relations agency signed a 10-year, 12,487 s/f lease for the entire sixth floor in the trophy tower located on the northwest corner of 52nd Street and Lexington.
Renewing its 2nd floor lease at 415 Madison Avenue was not an option for Citizen due to the MTA’s planned temporary use of the floor for construction associated with a future entrance to the Long Island Rail Road (LIRR).
Citizen, headquartered in in Los Angeles, is moving its New York office to 600 Lexington Avenue where the firm will continue to serve national and global clients.
“We’re all pleased with this transaction since we successfully secured new office space for Citizen that offers both great value and also allows the company to upgrade its New York headquarters on a full floor,” said Hoffman.
“Citizen inspected many alternative locations, but 600 Lexington Avenue gave the company the opportunity to stay in the Grand Central Station submarket, an ideal location for its employees and clients.
“Citizen is designing a modern workplace consistent with the company’s nationwide standards and Cushman’s project management team is overseeing the construction project.”
Asking rents for the full-floor space were in the high $60s psf. Hoffman and McArthur represented Citizen Relations. JLL’s Frank Doyle, vice chairman, Paul Glickman, vice chairman and Benjamin Bass, vice president represented SL Green. 600 Lexington Avenue has undergone various capital improvements aimed at upgrading the plaza area and interior space.
Tenants include FIKA, MKP Capital Management and Hawkins Parnell Thackston & Young.