Rockefeller Group signs insurance company Endurance to 143K sf at 1221 Sixth

China Investment Corp. recently bought a minority stake in the building, valuing it at $2.29B

New York /
Jan.January 19, 2017 12:00 PM

The Rockefeller Group signed commercial-property and casualty insurer Endurance to 143,000 square feet at its 50-story Rockefeller Center office tower at 1221 Sixth Avenue, also known as the McGraw-Hill Building.

Endurance, headquartered at SL Green Realty’s 750 Third Avenue, inked a deal for the 17th, 18th and 19th floors at the 2.6 million-square-foot tower between 48th and 49th Street, sources told The Real Deal.

A spokesperson for the landlord confirmed the lease.

Endurance will move into the 18th and 19th floors in the first quarter, and take the remaining space on the 17th floor in early 2021. The asking rent in the 10-year deal wasn’t immediately available.

Rockefeller last year signed the law firm Dentons to more than 200,000 square feet in the building after completing a $30 million renovation of the building’s lobby last year.

The landlord also signed Major League Baseball late last year to roughly 400,000 square feet at the neighboring 1217 Sixth Avenue, a major shot in the arm for the stretch of Sixth Avenue that’s undergoing a change as major tenants like Time and HBO relocate to other parts of the city.

“Avenue of the Americas has long-been recognized as an international address, and we are pleased that the building continues to be a location of choice for leading global businesses across multiple sectors, from financial services, professional services and insurance, to media and entertainment,” Ed Guiltinan, Rockefeller’s director of leasing, said in a statement.

Rockefeller owns a 55 percent stake in the tower. The China Investment Corporation bought a 45 percent stake in the property from the Canadian Pension Plan late last year in a deal that valued the building at roughly $2.29 billion.

Rockefeller was represented in-house, while Dana Pike of George Comfort & Sons represented Endurance.


Related Articles

arrow_forward_ios
About 17.3 percent of Manhattan office space is available for lease, the most in decades. (iStock)
Manhattan office market’s 25% drop is ominous sign for landlords
Manhattan office market’s 25% drop is ominous sign for landlords
Douglas Durst with 1133 Avenue of the Americas (left) and 114 West 47th Street (Google Maps, Getty)
Durst refinances two Midtown buildings with $1.1B CMBS loan
Durst refinances two Midtown buildings with $1.1B CMBS loan
Tower 535 in Hong Kong and WeWork CEO Sandeep Mathrani (Photos via SOM, Getty)
WeWork exits first Hong Kong location as part of global downsizing
WeWork exits first Hong Kong location as part of global downsizing
Vornado's Steve Roth. (Getty, Google Maps)
Here’s what tenants are paying at Vornado’s 909 Third Avenue
Here’s what tenants are paying at Vornado’s 909 Third Avenue
Mack-Cali’s CEO Mahbod Nia with 99 Wood Avenue South, 101 Wood Avenue South in Iselin, NJ, and 333 and 343 Thornall Street in Edison, NJ (Google Maps)
Mack-Cali Realty sells Metropark complex for $254M
Mack-Cali Realty sells Metropark complex for $254M
135 West 29th Street and Kaufman Organization CEO Edward Hart (Google Maps, Kaufman)
Kaufman Org closes on $35M ground lease deal
Kaufman Org closes on $35M ground lease deal
Prospect Schools CEO Dan Rubenstein. (Prospect Schools, Google Maps)
Charter school inks 70K sf lease in Downtown Brooklyn
Charter school inks 70K sf lease in Downtown Brooklyn
Newmark’s Barry Gosin (left) and CBRE’s Bob Sulentic
Weird flex but OK: How CRE giants hope to cash in on the future of the office
Weird flex but OK: How CRE giants hope to cash in on the future of the office
arrow_forward_ios

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

Loading...