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Brokerage
Posted: September 19, 2017
Mitsui Sumitomo Marine Management signs 7,500 s/f lease for 18th floor of 527 Madison; C&W is exclusive leasing agent for property
Manhattan, NY Mitsui Sumitomo Marine Management (USA), Inc. (MSMM) signed a new lease for the 18th floor at 527 Madison Ave., the class A office tower owned by Mitsui Fudosan America (MFA). MSMM will occupy the 7,500 s/f, with additional space intended to support continued expansion. The company will retain its current 560 Lexington Ave. location as its executive office.
The tenant negotiated directly with Keith Purcell, vice president, asset management and leasing for MFA, and Jim Frederick, a vice chairman with Cushman & Wakefield. Frederick, Peter Occhi and Gordon Hough of Cushman & Wakefield is the exclusive leasing agents for the building.
“The new office accommodates our growing underwriting team in New York and its location is convenient for our current and prospective employees, as well as clients,” said Christopher Haarmann, president & COO of MSMM. “The readily available space also makes the move seamless, so our operations can continue with minimal interruption and maximum efficiency.”
“We are excited to have Mitsui Sumitomo Marine Management join 527 Madison’s roster of diverse businesses and are pleased to accommodate its growth with a full-floor availability of this size,” said Frederick. “The Plaza district is a highly desirable Manhattan submarket that is experiencing an increase in leasing activity and Mitsui Fudosan America is committed to providing tenants with turn-key solutions. Additionally, MFA is a sophisticated landlord capable of tailoring lease terms to tenant requirements and providing desired amenities.”
MFA unveiled a new, setback terrace on the 10th floor overlooking the Plaza District, tenants can enjoy, as well as host evening events. The 240,000 s/f, 26-story tower completed renovations in 2015, including elevator modernization and the addition of a MdeAS-designed lobby that serves as a rotating art gallery for local artists.
“Its layout and design meets the needs and aesthetic of a variety of tenants in the market,” said Frederick.
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