Hoffman and McArthur of Cushman & Wakefield arrange 12,487 s/f lease

Manhattan, NY David Hoffman Jr., vice chairman and Judd McArthur, senior vice president of Cushman & Wakefield represented Citizen Relations in its planned relocation from 415 Madison Ave. to SL Green’s 600 Lexington Ave. The public relations agency signed a 10-year, 12,487 s/f lease for the entire sixth floor in the tower located in Midtown on the northwest corner of 52^nd St. and Lexington Ave. Renewing its 2nd floor lease at 415 Madison Ave. was not an option for Citizen due to the MTA’s planned temporary use of the floor for construction associated with a future entrance to the Long Island Rail Road (LIRR). Citizen, headquartered in in Los Angeles, is moving its New York office to 600 Lexington Ave. where the firm will continue to serve national and global clients. “We’re all pleased with this transaction since we successfully secured new office space for Citizen that offers both great value and also allows the company to upgrade its New York headquarters on a full floor,” said Hoffman “Citizen inspected many alternative locations but 600 Lexington Ave. gave the company the opportunity to stay in the Grand Central Station submarket, an ideal location for its employees and clients. Citizen is designing a modern workplace consistent with the company’s nationwide standards and Cushman’s project management team is overseeing the construction project.” Although terms of the lease were undisclosed, asking rents for the full-floor space were in the high $60’s-per-s/f. Hoffman and McArthur represented Citizen Relations. JLL’s Frank Doyle, vice chairman, Paul Glickman, vice chairman and Benjamin Bass, vice president represented SL Green. 600 Lexington Ave. is an Energy Star rated and Wired NYC Gold certified tower located in the heart of Midtown Manhattan’s Grand Central Station submarket. Designed by renowned architecture firm Emery Roth & Sons in 1984, the 36-story building offers tenants the opportunity to have a full-floor presence in one of the most desirable corporate locations in New York City. Most recently, the landlord spearheaded a capital improvements project aimed at upgrading the building’s plaza area and interior space – a new lobby with wood paneling and marble floors was built, elevator cabs and telecommunication systems were also upgraded. The building is in close proximity to major mass transportation hubs like Grand Central Station and is located next to the Four Seasons restaurant. Notable tenants include FIKA, MKP Capital Management and Hawkins Parnell Thackston & Young.