498 seventh Ave. Picture courtesy of George Consolation & Sons
Securitas Providers USA Inc. has signed a ten-year, 19,500-square-foot lease at 498 seventh Ave., a 960,000-square-foot workplace constructing in Midtown Manhattan. The not too long ago renovated tower is now 96 p.c occupied.
George Consolation & Sons, along with Loeb Companions Realty and JR AMC, picked up the property in 2002 for $202 million, in accordance with CommercialEdge. The owner was represented in-house by George Consolation & Sons’ Andrew Conrad and Matt Coudert, whereas CBRE’s David Opper and Eddie Sisca negotiated on behalf of Securitas.
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The safety firm will relocate from its present premises at 1412 Broadway within the fourth quarter of the yr and can occupy area on the 14th ground of 498 seventh Ave. Main tenants current on the new location embrace Dattner Architects, Tetra Tech’s Consentini Associates, 1199SEIU Funds and Chase Financial institution, the identical knowledge supplier exhibits.
The reimagined workplace constructing is located inside the Garment District, near Penn Station and to a number of subway, rail and bus stations, 3 miles from Metropolitan Museum of Artwork, 5 miles from Wall Road, 10 miles from Brooklyn and 15 miles from John F. Kennedy Worldwide Airport.
Repositioning a Midtown workplace tower
The possession labored along with structure and design agency Gensler to reposition the property, that now contains three new entry methods on seventh Avenue, thirty sixth and thirty seventh streets, a redesigned foyer that includes stone and granite finishes, a brand new lounge and prolonged workspaces, a espresso bar, together with a renovated ground-floor space.
In 2022, George Consolation & Sons, serving as asset supervisor on behalf of UBS Realty Traders, landed a 62,000-square-foot lease settlement with a significant client items firm at 135 W. fiftieth St. Gensler was additionally behind the constructing’s current $50 million renovation.
