Manhattan, NY Churchill Asset Management LLC, an investment specialist of Nuveen, the asset manager of TIAA, has signed a long-term 78,163 s/f extension and expansion at RFR’s Seagram building. Churchill is a $50 billion leading capital provider for private equity-owned middle market companies and currently occupies 52,124 s/f on floors nine and 10 at Seagram; the firm will expand its footprint by 26,062 s/f taking the full eighth floor at Seagram.
Churchill Asset Management first signed on at Seagram in 2022 with a 52,144 s/f lease. As the company continued on its remarkable growth trajectory, the firm preferred to expand in place at Seagram, growing its footprint to 78,163 s/f and extending the terms of its current lease.
In addition to the 78,163 s/f commitment from Churchill Asset Management – and on the heels of the recent 238,673 s/f Blue Owl Capital extension/expansion – well-known private equity, investment management and international sovereign wealth management firms are actively engaged in securing space at Seagram. Over 100,000 s/f of extensions, expansions and new leases are set to close by year end.
Scott Vinett of Savills and Chris Joyner of Fischer Corporate Real Estate represented Churchill Asset Management while RFR was represented in-house by executive vice president and director of leasing, AJ Camhi and senior vice president Paul Milunec.
“As our firm and team continue to grow, we are excited to further expand our footprint at the Seagram building. The building’s central Midtown location and best-in-class service and amenities make it an ideal headquarters for our employees and clients,” said Shai Vichness, chief financial officer at Churchill. “RFR has been an invaluable partner, and we look forward to deepening our long-term commitment to this iconic location.”
“Seagram is known as the premiere hub of financial and business services in Midtown,” said AJ Camhi of RFR. “The competition for space is notably fierce as a large percentage of existing tenants want to grow in place at Seagram. We are always pleased to partner with our tenants to accommodate growth whenever possible.”
Beyond the office suites and Seagram’s architectural significance, tenants are attracted to – and are often found taking advantage of – the amenity package. The 34,000 s/f Seagram Playground gives tenants an expansive amenity space that combines physical fitness, wellness and social collaboration. The space includes multi-sport courts, a rock-climbing wall, a Pilates station, showers and lockers, a town hall meeting space and various conferencing and flex space options for working and socializing outside the office or for large-scale events and meetings.
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