Akerman takes 100,000 s/f at Mitsui Fudosan America property

December 17, 2019 - Front Section

Manhattan, NY According to Mitsui Fudosan America, Inc. (MFA), Akerman LLP—ranked among The American Lawyer’s top 100 law firms in the U.S.—has signed a 100,000 s/f lease at 1251 Avenue of the Americas. The transaction brings 1251 Avenue of the Americas to 98% occupancy.

Akerman will occupy the 37th and 38th floors and partial 35th floor of MFA’s flagship tower. The move is an expansion in office space from Akerman’s current office at 666 Fifth Ave.. The space will allow Akerman to accommodate up to 185 lawyers in the New York office, which has grown from seven to 126 lawyers since the office opened 12 years ago.

David Falk, president, New York Tri-State Region, of Newmark Knight Frank (NKF) represented MFA with executive managing director Peter Shimkin. JLL managing director Matthew Cheezem, vice chairman Ken Siegel and vice chairman Lisa Kiell represented Akerman. NKF is the exclusive leasing agent for the property. 

“Akerman is among the most forward-thinking law firms in the industry and we are delighted to welcome them to 1251 Avenue of the Americas,” said Christopher Perez, senior vice president of MFA. “We continually improve 1251 through capital investments and operational upgrades in order to maintain its standing as one of the finest office buildings in New York City. Akerman’s commitment affirms our confidence in the property as the heart of the Sixth Avenue corporate corridor.”

“Increasing client demand drives the firm’s strategic growth, and as our New York office continues to build capacity, 1251 Avenue of the Americas is an exceptional location to accommodate our expanding needs,” said Andrew Smulian, Akerman chairman and CEO. “Our New York office, the firm’s second largest, grew aggressively this year with a number of top-tier laterals reflecting a range of important client sectors. Our new space will allow us to continue our growth trajectory in what continues to be a vital market for Akerman and our clients.”

The office expansion is part of Akerman’s national growth and success in key business centers across the United States, including Chicago, Houston, Miami, Los Angeles, and Washington, D.C. Last year, Akerman more than doubled its physical footprint at 71 South Wacker in Chicago to accommodate the firm’s rapid growth in the region. In 2017, Akerman signaled its commitment to Los Angeles and its plan for growth by relocating its office to The CalEdison DTLA in the Financial District, a move that represented a nearly 80 percent expansion in office space. Akerman also relocated its largest office in 2016 to downtown Miami’s Brickell City Centre. 

The Am Law 100 firm will join a roster of premier tenants that includes MUFG Union Bank, DLA Piper, Trust Company of the West, Sandler O’Neill, Mizuho Corporate Bank, Waterfall Asset Management, ICSC, Lowenstein Sandler, Berenberg Capital Markets and Rothschild, Inc., among other well-known names in the financial, legal and real estate industries.

“Akerman’s decision to choose 1251 Avenue of the Americas for its New York office speaks volumes about the quality of the building,” said Falk. “Sixth Ave. remains one of the most dynamic and amenity-rich neighborhoods in Manhattan, qualities that we believe Akerman will appreciate for years to come.”

The property features column-free floorplates, full-height windows, and a robust infrastructure.

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