POSTINGS ///////////////////////////////////////////////////////////////////// THE YEAR IN COMMERCIAL REAL ESTATE

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F
450K 400K Jefferies & Company 458,000 square feet Location: 520 Madison Avenue Landlord: Tishman Speyer Landlord rep: Tishman Speyer Tenant rep: Cushman & Wakefield Month and type of transaction: January, renewal and expansion L’Oreal 402,000 square feet Location: Hudson Yards Landlord: Related Companies Landlord rep: CBRE Tenant rep: CBRE Month and type of transaction: April, new

Mega Deals Move Midtown

or two years in row, 1 World Trade Center scored among the city’s largest transaction, starting with 2011’s Condé Nast showstopper and following with last year’s 270,000-square-foot UGS deal. But in 2013, the buzz moved uptown when another marquee deal, L’Oreal’s 400,000-square-foot commitment to the Related Companies, stole the headlines at the new Hudson Yards development. Last year was a relatively modest one compared to 2011 when it came to office leasing, but 2013 saw a significant rebound—the top 10 deals totaled more than 2.7 million square feet, a 50 percent increase year over year. Like 2012, a variety of sectors made the list, from financial services to law firms to the media and publishing industries. Below are the top 10 leases of 2013 by square footage, courtesy of Cushman & Wakefield.

350K

300K

250K

200K

Jones Day 330,210 square feet Location: 250 Vesey Street Landlord: Brookfield Landlord rep: Brookfield Tenant rep: Studley Month and type of transaction: November, new

150K

Warner Music Group 288,250 square feet Location: 1633 Broadway Landlord: Paramount Group Landlord rep: CBRE Tenant rep: N/A Month and type of transaction: October, new

Metropolitan Transit Authority 260,891 square feet Location: 420 Lexington Avenue Landlord: SL Green Landlord rep: SL Green Tenant rep: Cushman & Wakefield Month and type of transaction: December, new

100K

Capital One Bank 244,415 square feet Location: 299 Park Avenue Landlord: Fisher Brothers Landlord rep: CBRE Tenant rep: Cushman & Wakefield Month and type of transaction: September, sublease

Health and Hospital Corporation 221,180 square feet Location: 55 Water Street Landlord: New Water Street Corp. Landlord rep: CBRE Tenant rep: Cushman & Wakefield Month and type of transaction: September, new

50K

Mayer Brown LLP 186,804 square feet Location: 1221 Avenue of the Americas Landlord: Rockefeller Group Landlord rep: Cushman & Wakefield Tenant rep: CBRE Month and type of transaction: October, new

Harper Collins Publishers 180,703 square feet Location: 195 Broadway Landlord: L&L Holdings (building since sold to investors) Landlord rep: L&L Holdings Tenant rep: CBRE Month and type of transaction: January, new

Yahoo 176,647 square feet Location: 229 West 43rd Street Landlord: Equity Office Landlord rep: Newmark Grubb Knight Frank Tenant rep: Jones Lang LaSalle Month and type of transaction: May, new

0 Note: Pure renewals were excluded from this list. Information is accurate as of Dec. 16.

20 | DECEMBER 17, 2013  | COMMERCIAL OBSERVER

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