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Manikay Partners subleases portion of 39th floor from Marathon Assest Management at Class A, 2.1 MSF office tower
NEW YORK, April 30, 2013 — Jones Lang LaSalle has completed a sublease transaction with Manikay Partners LLC at One Bryant Park, also known as Bank of America Tower. The hedge fund manager signed a six-year sublease for 8,828 square feet of commercial office space with Marathon Asset Management LP at the Class A, 2.1 million-square-foot commercial office building.
JLL represented both sides in the sublease transaction. Alexander Chudnoff, executive managing director, represented the sublandlord, Marathon Asset Management; and Dan Turkewitz, senior vice president, represented the subtenant, Manikay Partners.
“This transaction was ideal for Manikay Partners, as the space on the 39th floor had been built-out and furnished to a very high standard by Marathon Asset Management,” said Turkewitz. “The previous tenant made substantial investments in supplemental air conditioning and wiring, which resulted in considerable capital expenditure savings to Manikay Partners. In addition to the turnkey installation, Manikay Partners was drawn to One Bryant Park due to its spectacular views, efficiencies associated with new construction, and the building’s extended HVAC hours. Open lines of communications among all parties involved in the transaction allowed for the completion of this sublease in just two weeks.”
Manikay Partners will occupy a portion of the 39th floor at One Bryant Park, which is located across from Bryant Park at the intersection of 42nd Street and Sixth Avenue. The hedge fund manager is relocating to the building from its previous offices at 375 Park Avenue, also known as the Seagrams Building.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,750 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2011, the New York tri-state team completed approximately 15.9 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at more than $6.8 billion, and oversaw a property and facilities management portfolio of 63.6 million square feet and an agency leasing portfolio of 49.8 million square feet.About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications