1633 Broadway scores one of the biggest office leases of 2010

Allianz Global Investors, the German financial services firm, has inked a 20-year deal for 213,000 square feet at 1633 Broadway in one of the largest office leases of the year, the Wall Street Journal reported. Allianz, which is currently located at 1345 Sixth Avenue, first considered relocating more than two years ago to consolidate its offices, but put those plans on hold during the economic downturn. With the market now increasingly stable and with landlords still offering incentives and slashed rents, the company jumped back into the fray. Terms of the deal weren’t immediately clear, except that it includes the rights to expand to 260,000 square feet and to signage at the top of the building, which is owned by Paramount Group. CB Richard Ellis represented Allianz in the deal. [WSJ]