The Real Deal New York

Consolidating its office space, Alterra inks 27,000 SF lease on Sixth Avenue

January 18, 2013 02:30PM

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1185 Avenue of the Americas

Alterra USA Holdings has inked a 27,342-square-foot lease in SL Green Realty-owned 1185 Avenue of the Americas, in a move to consolidate their New York offices into a single Midtown space, the New York Observer reported.

The insurance firm, which in December 2012 was acquired by Markel Corporation for $3.13 billion, will join high-profile building tenants including News Corporation, King Spalding and the National Hockey League. Alterra previously had two separate office locations, including a 4,635 square-foot space in another SL Green-owned building, 1350 Avenue of the Americas.

Scott Cahaly, a senior vice president at Jones Lang LaSalle, represented the buyer. “Alterra USA sought to combine operations previously at two separate locations in Manhattan,” Cahaly said. “The space at 1185 Avenue of the Americas was ideal for the insurance firm, as it provided Alterra with a single, centrally located office in a building boasting a prestigious tenant roster.”

SL Green was represented by in-house brokers Gary Rosen and Howard Tenenbaum. The city’s largest commercial landlord had recently been eyeing the purchase of a retail site at 529 Broadway, which eventually sold for a record $150 million to a partnership of Jeff Sutton, Joe Sitt, Bobby Cayre and the Adjmi family, as The Real Deal previously reported. [NYO]Hiten Samtani

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