Ryan of Jones Lang LaSalle secures 50,000 s/f at 500-512 Seventh Ave. for Flack & Kurtz

Jones Lang LaSalle has completed a sublease for Flack & Kurtz Inc. at 500-512 Seventh Ave. The engineering firm took 50,000 s/f at the 677,500 s/f class A office building. The subtenant was represented by John Ryan, managing director, with Jones Lang LaSalle's N.Y. office. The sublandlord, iVillage Inc., was represented by David Rosenbloom of Cushman & Wakefield Inc. The 500-512 Seventh Ave. building is owned by 500-512 Seventh Avenue L.P., and is located between West 37th and West 38th Sts. "Engineering firms such as Flack & Kurtz and other professional services firms are looking for low-cost space with wide-open spaces," said Ryan. "The company searched Lower Manhattan for appropriate offices but found a great deal in Midtown that was close to its existing offices at 475 Fifth Ave." The company is taking 50,000 s/f at 500-512 Seventh Ave. and will occupy the entire 14th floor of the building. Flack & Kurtz is relocating to the building from its existing offices at 475 Fifth Ave., where it had been based for the past 16 years. While the engineering firm's new offices are approximately 9,000 s/f larger than its space at its previous location, it was able to house the entire company on the 14th floor at 500-512 Seventh Ave. Flack & Kurtz occupied three full floors at 475 Fifth Ave. Jones Lang LaSalle, the only real estate money management and services firm named to Forbes magazine's "400 Best Big Companies" for three consecutive years, has approximately 170 offices worldwide and operates in more than 700 cities in over 60 countries. With 2007 revenue of $2.7 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion square feet worldwide. In the New York area, Jones Lang LaSalle provides leasing and management services for nearly 45 million square feet of commercial real estate. For more information, visit www.joneslanglasalle.com