Coca-Cola looks to sell Fifth Ave building

Ralph Lauren shuttered flagship store at property’s base last year, but is still on the hook for the lease

New York /
Dec.December 10, 2018 04:45 PM

711 Fifth Avenue (Credit: LoopNet)

Coca-Cola is looking to sell its eponymous building on Fifth Avenue.

The soft drink maker has put the 18-story, 354,000-square-foot building it owns at the corner of 55th Street on the market, Bloomberg News reported.

Coca-Cola, which inherited the building at 711 Fifth Avenue in 1983 with its purchase of Columbia Pictures “has determined that it does not need to retain its investment in the building to support its activities in New York,” according to a statement.

A Cushman & Wakefield team of Doug Harmon, Adam Spies and Kevin Donner is marketing the property.

Douglas Harmon and Adam Spies

The building, which dates back to 1927, has three floors of office space at the top that are vacant and could be combined into one large space. Office tenants include the investment Bank Allen & Co. and Sandler Management.

The retail is under lease to luxury watchmaker Breguet and Ralph Lauren, which are both looking to sublease their space. Ralph Lauren last year closed the Polo store it operated at the space, and continues to run the popular Polo Bar restaurant. [Bloomberg] – Rich Bockmann


Related Articles

arrow_forward_ios
198 Scholes Street, 65 Kent Avenue, 506 DeKalb Avenue and 11 Gunther Place (Illustration by the Real Deal with Getty, Google Maps)
Avi Philipson deal to acquire All Year portfolio is back on
Avi Philipson deal to acquire All Year portfolio is back on
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
Empire Capital Holdings' Josh Rahmani, Hakimian Capital's Michael Hakimian, RXR's Scott Rechler and 1330 6th Avenue (Getty, Hakimian Capital, Empire Capital Holdings, 1330aofa.com)
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
Empire Capital, partners close on $320M deal for 1330 Sixth Ave
arrow_forward_ios

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

Loading...