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Deals & Dealmakers

Toyota subsidiary renews lease at 805 Third Avenue

Toyota Tsusho America, Inc. has renewed its 43,000 s/f headquarters lease at Charles S. Cohen’s 805 Third Avenue, at 50th Street.

“We’re delighted that one of the world’s most respected business brands, Toyota, will continue to be calling 805 Third Avenue its home,” said Cohen, president/CEO of Cohen Brothers Realty Corporation.

Paul Meyers and Sarah Pontius of CBRE represented Toyota while Marc Horowitz, senior vice president and National Director of Office Leasing for Cohen Brothers, represented the building’s owner in the six-year lease renewal transaction. Asking rent was in the high $60 range.

According to Horowitz, 805 Third Avenue, a 31-story, 600,000 s/f tower that occupies the entire easterly blockfront between 49th and 50th Street, is now 98 percent leased.

High profile tenants in the building include Meredith Corporation, one of the country’s leading media and marketing firms, and the Yankees Entertainment and Sports (YES) Network.

A wholly subsidiary of Toyota Tsusho Corporation, Toyota Tsusho America, Inc. is a multi-business enterprise that has been operating in North America since 1961.

The company focuses on both international trading as well as a broad range of domestic businesses from supply chain services to intermediate goods processing.

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