Mitsubishi International has renewed its lease at the Durst Organization’s 655 Third Avenue, a space it has occupied for more than a decade.
The Japanese Corporate giant has extended its lease term for up to another three years, the landlord announced Wednesday. The company, which first moved into the building in 2004, occupies 120,000 square feet, taking up the tower’s entire second through sixth floors.
Asking price for the space was $70 per square foot. Mitsubishi was represented by Newmark Knight Frank’s Moshe Sukenik, Noel Flagg, and E.N. Cutler. Durst Organization was represented in-house by Tom Bow, Rocco Romeo, Ashlea Aaron and Tanya Grimaldo.
The renewal comes at an uncertain time for the office market. Many offices have been shut down during the coronavirus crisis, and major tech companies — including Twitter and Facebook — have announced a shift to having more employees work from home.
Other major tenants of the 30-story tower include Nippon Life Insurance, Big East Conference and Abacus Group.
Write to Kathryn Brenzel at kathryn@therealdeal.com