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.


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