7 Bryant Park inches toward deal with anchor tenant

TRD New York /
Jan.January 21, 2014 05:15 PM

Seven Bryant Park is close to inking its first lease, which would take up roughly 30 percent of the 471,000-square-foot tower, developed by Dallas-based landlord Hines.

Law firm Reed Smith is reportedly in talks to take a 160,000-square-foot space in the building, and is in competition with another unidentified tenant. The winner would be the 30-story building’s anchor tenant on the building’s base floor, where rents are reportedly running in the $80s per square foot. The building’s upper floors, by contrast, are said to be asking as much as $200 per square foot. Should Reed land the deal, the firm would be relocating from 599 Lexington Avenue, between 52nd and 53rd streets, in Midtown. Jones Lang LaSalle is representing Reed Smith in the negotiations, while CBRE is working on behalf of landlord Hines and partner investors Pacolet Milliken Enterprises and JPMorgan Asset Management.

Pei Cobb Freed & Partners Architects designed the building between West 39th and West 40th streets, which is currently under construction and slated for completion in 2015. [Crain’s]Julie Strickland


Related Article

arrow_forward_ios

Bank of China looks to sell longtime US HQ at 410 Madison

Bank of China to occupy 40 percent of 7 Bryant Park

Bank of China to buy 7 Bryant Park for $600M

Bank of China now weighing ownership stake at 7 Bryant Park

Bank of China in talks to anchor 7 Bryant Park

Hines hunting for new anchor tenant at 7 Bryant Park

Placeholder image

Lofty aspirations for 7 Bryant Park

Placeholder image

Trouble landing tenants slows office construction

arrow_forward_ios