Transwestern Real Estate Services (TRS) represented Eurazeo in a 14,079 s/f lease expansion and renewal for the investment firm’s U.S. headquarters at 745 Fifth Avenue.
Chase Gordon, Transwestern Senior Vice President, and Lindsay Ornstein, founder of OPEN Impact Real Estate, provided tenant advisory services for Eurazeo.
Eurazeo, a Paris-based global investment group, will occupy the entire 19th floor of 745 Fifth Avenue. The firm is moving from the 32nd floor, where it occupies 6,200 s/f. The new office suite offers access to a large outdoor terrace and features exceptional views of Central Park.
“Eurazeo is experiencing significant growth in its U.S. business, which required it to move to space that would better suit its needs,” said Gordon. “We conducted an extensive search for the firm and are very pleased to have the opportunity for an expansion within 745 Fifth Ave. The larger office suite will allow Eurazeo greater flexibility in supporting its employees and servicing its clients.”
Owned by Paramount Group, Inc., 745 Fifth Ave. consists of 35 floors and is LEED Gold certified. The building is located steps from Central Park and directly across from the Plaza Hotel and features an impressive art deco lobby. Paramount was represented in the transaction by its internal team.
According to research by Transwestern, the Plaza District of Manhattan consists of 69 million square feet of office space and had a 15.7 percent availability rate as of Q2 2021.