Itochu takes full floor at Mitsui Fudosan’s 1251 Sixth

Japanese holding company moving from Milstein's 335 Madison

New York /
Jul.July 15, 2015 03:15 PM

One of Japan’s largest corporations is moving its New York office to 1251 Sixth Avenue in Midtown.

Itochu – Japan’s second-largest sogo shosha, or general trading company – signed a 20-year lease for around 46,000 square feet at the former Rockefeller Center office tower, located between West 49th and West 50th streets. The company will occupy 53-story, 2.4 million-square-foot building’s entire 51st floor, with asking rent at $105 per square foot.

Mark Weiss and Brian Waterman of Newmark Grubb Knight Frank represented Itochu, which will move its offices from Howard Milstein’s 335 Madison Avenue, according to Crain’s. Newmark’s David Falk and Peter Shimkin handle transactions at 1251 Sixth Avenue for landlord Mitsui Fudosan.

Falk said Newmark leased around 250,000 square feet at the property last year, as well as another 100,000 square feet so far this year. Tenants who signed on at the building last year included Japanese financial firm Sumitomo Mitsui Trust Group and law firm Davis Wright Tremaine. [Crain’s]Rey Mashayekhi


Related Articles

arrow_forward_ios
Newmark CEO Barry Gosin (Getty, iStock)

Newmark reports Q3 earnings down 25%

Newmark reports Q3 earnings down 25%
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

“For years we all laughed at them”: office brokers warm to virtual tours

“For years we all laughed at them”: office brokers warm to virtual tours
Director of Research & Analytics for CBRE Tri-State Nicole LaRusso, Vice Chairman & Director at Savills David Goldstein, and President of Newmark Knight Frank's Tri-State region David Falk

How to open up our offices on tonight’s TRD Talk

How to open up our offices on tonight’s TRD Talk
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

How to restart retail on today’s TRD Talk

How to restart retail on today’s TRD Talk
“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief

“Be very careful what you ask for,” top broker warns borrowers seeking relief
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

WeWork taps JLL, Newmark to help negotiate rent relief
From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Brokerage stocks plunge amid market turmoil
125 Park Avenue (Credit: Google Maps, iStock)

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...