December 9th, 2014
Ivanhoé Cambridge and Callahan Capital Properties along with their partner, Beacon Capital Partners, announced today that Nordea, one of Europe’s largest financial institutions, leased 40,429 square feet of office space at 1211 Avenue of the Americas. Nordea committed to a 15-year deal at the two million-square-foot, Class A property located in the heart of Midtown Manhattan.
A leader within the corporate and institutional banking arena, and a major provider of life and pension products as well as retail and private banking in Nordic countries, Nordea will house its New York operations on the 23rd floor of 1211 Avenue of the Americas. In addition to Nordea, notable tenants in the building include, News Corp., 21st Century Fox, Ropes & Gray LLP, and Axis Reinsurance.
“We are extremely pleased to welcome Nordea, a leading, global financial services firm to 1211 Avenue of the Americas. This newest lease reflects the quality of the property and its prime Midtown location,” said Brian Robin, Senior Vice President responsible for asset management in the eastern region at Callahan Capital Properties. “We have recently leased over 160,000 square feet to tenants looking for the ideal combination of an amenity-rich work environment and the highest levels of on-site management services.”
Bryan Boise, Jonathan Schindler and Aron Schrier of Cassidy Turley negotiated the long-term lease on behalf of the tenant. Cushman & Wakefield’s Josh Kuriloff, Mitchell Arkin, and Ethan Silverstein represented the ownership in the negotiations.
1211 Avenue of the Americas, built in 1973, is a striking 44-story, two million square-foot, Class A office tower located in the heart of Midtown Manhattan and situated near major transportation hubs. The building has direct access to the Rockefeller Center Concourse amenities and subway. Grand Central Terminal, Port Authority Bus Terminal and Penn Station are within walking distance and an on-site direct subway connection links commuters to the entire metropolitan area. The building is LEED Silver certified, Energy Star designated and the winner of the BOMA 2010 Middle Atlantic Regional Building of the Year and the BOMA 2008/2009 Operating Building of the Year.
About Ivanhoé Cambridge
Ivanhoé Cambridge leverages its high-level expertise in all aspects of real estate including investment, development, asset management, leasing and operations, to deliver optimal returns for its investors. Its assets, held through multiple subsidiaries and located mainly in Canada, the United States, Europe, Brazil and Asia, totalled more than Cdn$40 billion as at December 31, 2013. Its portfolio consists mainly of shopping centres, office and multiresidential properties. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more information: ivanhoecambridge.com.
About Callahan Capital Properties (CCP)
Callahan Capital Properties is a real estate investment firm focused on creating value in real estate by investing in high-quality office properties and leveraging substantial experience and expertise in asset management to generate above-average risk adjusted returns. The principals of CCP have extensive experience in owning, managing and developing some of the most prominent office properties in North America. Additionally, they have created award-winning programs in customer service and sustainability.
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