The Real Deal New York

DTZ, Cushman parent grows to 100K sf at 888 Seventh

Texas Pacific Group will now occupy six floors of Vornado's Midtown building
July 02, 2015 02:25PM

DTZ parent company and private equity firm Texas Pacific Group renewed its lease for another 10 years at Vornado Realty Trust’s 888 Seventh Avenue, where it will now take up 100,000 square feet.

TPG is growing its space in the 47-story skyscraper by about 20,000 square feet, Crain’s reported, and will be located on 33rd through 38th floors. Asking rent was $115 per square foot, according to the website.

The private equity giant signed its first lease for 20,000 square feet at the building 10 years ago.

TPG purchased DTZ last year. Earlier this year, DTZ agreed to buy Cushman & Wakefield for $2 billion, which will make it the third biggest real estate services firm in the world.

Newmark Grubb Knight Frank’s Neil Goldmacher represented TPG. Jared Solomon repped Vornado in-house. [Crain’s] — Claire Moses