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Deals & Dealmakers

Energy advisory firm Wood Mackenzie renews at 452 Fifth

PC USA today announced a 10,338 s/f lease at its trophy, 865,000 s/f office tower located at 452 Fifth Avenue.

Wood Mackenzie, a global leader in commercial intelligence for the energy, metals and mining industries, inked a five-year renewal at the Class A office tower.

The announcement on the new lease commitment by Wood Mackenzie was made by Eli Elefant, Chief Executive Officer of PBC USA, who along with Alicia Popper, Senior Vice President at PBC USA, represented the ownership in the negotiations.

“We worked closely with Wood Mackenzie’s brokerage team to secure a new lease extension that addressed the firm’s current and future real estate requirements,” noted Popper.

“The Wood Mackenzie commitment not only solidifies the great relationship we have established between ownership and our tenants at 452 Fifth Avenue through stellar management, but also our continued achievement of triple digit rents and 100 percent occupancy.”

Wood Mackenzie, a part of Verisk Analytics, Inc., provides analysis and advice on assets, companies and markets, giving its clients the insight they need to make better strategic decisions.

In addition to its New York City offices at 452 Fifth Avenue, the firm has operations throughout North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

Since acquiring the property in April 2010, the PBC USA completed a multi-million-dollar capital improvement campaign, which included the redevelopment of a multi-floor lobby and entrance, the upgrade of all the high-rise elevators serving the tower floors, and the installation of new emergency power generators.

Two mission critical projects also included new cooling towers and additional generators serving the top three penthouse floors.

The JLL team of Paul Glickman and Jonathan Fanuzzi represented PBC in this transaction. Tucker Shade and Gabe Marens of Savils Studley represented the tenant.

 

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