Deals inked for Torchlight Investors, Square 1 Bank and Daikin US, post major renovation program
JLL has completed three new, direct leases totaling 28,190 square feet for owner TIAA-CREF at 475 Fifth Avenue. Torchlight Investors LLC signed for 16,029 square feet, Square 1 Bank took 7,842 square feet and Daikin US Corp. leased 4,319 square feet at the 280,000-square-foot, Class A commercial office building.
TIAA-CREF was represented by Frank Doyle, vice chairman; Cynthia Wasserberger, managing director; Shawna Menifee, executive vice president; and Douglas Neye, senior vice president.
“After acquiring 475 Fifth Avenue in late 2011, TIAA-CREF launched a major renovation program designed to enhance the building and take advantage of its stellar location,” said Doyle. “With renovations nearing completion, activity at the building has picked up dramatically, as illustrated by the signing of three new leases.”
TIAA-CREF launched a multimillion dollar capital improvement program to reposition the office building in early 2012. The work included significant renovation to the lobby, which was relocated to 41st Street to provide greater exposure and visibility on Fifth Avenue to a ground floor retail space, as well as new energy-efficient mechanical and electrical infrastructure, new restrooms and new elevators. The building offers spectacular views of the New York Public Library and Bryant Park.… Read More
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