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Weekly Comps Digest from CompStak

01/16/2013
Dear Friend,

Every week we compile a digest of some of the most interesting recent deals from the CompStak database. We hope you will find the information helpful. 

UBS Signs Mega Deal at 1285 AoA 

After months of rumors about UBS's lease renewal at 1285 Avenue of the Americas, the Swiss bank finally inked the renewal and expansion deal. Here are the details:  890,000 SF for five years with rent in the high $70s and TIs in the mid $20s. 1285 Avenue of the Americas is famous for one of the largest deals of 2009 when law firm Paul, Weiss, Rifkind, Wharton & Garrison renewed its lease for 540,000 with starting rent in the high $60s. (The UBS lease entered the Compstak database on January 10th)
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Media Company Relocates to FiDiRock Shrimp Productions is leaving 345 Hudson to occupy a 9,639 SF office at 115 Broadway. The company will pay rents in the mid $30's, similar to the terms Konica Minolta and Quantilus received several months ago. (The Rock Shrimp deal entered the Compstak database on January 10)
Get the full comp information on CompStak
Rents Trending Up at 545 Madison

Strike Holdings Group will double its space at 545 Madison Ave and will pay over $80 PSF for the 13,764 SF space. Back in June Ogden Capital leased 27,808 SF paying rent in the mid $60s PSF, and in July Peter B. Cannell & Co. signed a 8,802 SF lease in the mid $70s PSF. (The Strike Holdings Group lease entered the Compstak database on December 17 2012. The Commercial Observer published a story about the lease on January 11, 2013.)
Get the full comp information on CompStak

01/15/2013 - 17:21

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