CBRE represents LCOR in 8,802 s/f lease at 545 Madison, now 88% leased

545 Madison is seeing strong demand, with a second lease at the building within a few weeks. Developed by LCOR, the 17-story, 140,000 s/f office/rental building is now 88% leased. CBRE's Gregg Rothkin, Paul Milunec, Keith Cody, Robert Kluge and Bob Flippin represented LCOR and Cushman & Wakefield's Don Preate and Jon Mayeske represented Peter B. Cannell & Co, Inc., an investment advisor, in the 10-year lease. Cannell & Co., Inc. will be leasing the entire 8,802 s/f of the 11th floor as a headquarters for their investment firm. The team at 545 Madison will build the space to suit Cannell's request, creating a layout to maximize the floor's usage. "With an existing tenant base of prestigious financial firms, Peter B. Cannell & Co. Inc. saw 545 Madison's 11th floor as a fit for them as well as an opportunity to customize their office space," said David Sigman, executive VP and principal at LCOR. "With an increasing demand for class A space we anticipate a fast track for reaching 100% leased." 545 Madison is located at the corner of 55th St. and Madison Ave. in the Plaza District. The office/retail building is currently 88% occupied and is one of the most requested office towers in Manhattan. The only two availabilities remaining at 545 Madison are the entire third floor and the entire 16th floor (9,282 and 6,877 sq. ft. respectively). At 545 Madison, tenants have the opportunity to select customizable or pre-built space, along with the benefit of hotel-style amenities. This past June, Ogden CAP signed a 27,000 sq. ft. lease at 545 Madison, consisting of the fourth, fifth and sixth floors; the largest lease within the building. Other respected financial companies within 545 Madison include Cliffwater LLC, BHR Capital LLC, RNK Capital, Siemens Enterprise Communications and the Home Shopping Network. Retail tenants include Alfred Dunhill, Oscar Blandi and Officine Panerai. Recognized as the top office redevelopment project of 2010 by the Greater New York Construction User Council, 545 Madison also holds LEED Gold certification from the U.S. Green Building Council. The gut-rehabilitation of 545 Madison was completed in 2008, to create a world-class building and environmentally friendly property. LCOR replaced the existing 1955 façade with glass curtain-wall recladding and installed a new state-of-the-art electrical and mechanical systems and elevators. About LCOR LCOR is a real estate investment and development company dedicated to creating better places for people to live, learn, work, travel and play. LCOR specializes in complex urban development including large-scale multifamily residential, commercial and mixed-use properties that often integrate housing, office, retail and transit components. The total value of LCOR's developments completed, under construction or in pre-development exceeds $8 billion. Nationally, LCOR has developed more than 20,000 residential units and 16+ million square feet of commercial space. LCOR is principally focused in the eastern United States, with offices in the New York, Washington D.C. and Philadelphia areas. About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.