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Investment management firm to take 11,607 SF, occupy entire 18th floor at Class A, 260,000-SF commercial office building in New York’s Midtown submarket
NEW YORK, July 25, 2013 — Jones Lang LaSalle recently completed a new, direct transaction for Impact Republic LLC at 386 Park Avenue South with William Macklowe Co. The investment management firm signed a 10-year lease for 11,607 square feet of office space at the Class A, 260,000-square-foot commercial office building.
The tenant, Impact Republic, was represented by Alexander Chudnoff, vice chairman, and Adam Haber, vice president, with JLL. The building owner, William Macklowe, was represented by Paul Amrich, vice chairman, and Neil King, vice president, with CBRE Inc.
“Impact Republic sought high-quality office space that would enhance the image of the newly launched company,” said Chudnoff. “William Macklowe Co. is a strong owner, having recently bought the building and committed to a major capital improvement program at the office property. The investment management firm’s new space on the 18th floor offers terrific views of Manhattan and includes the use of two terraces.”
Impact Republic will occupy the entire 18th floor at 386 Park Avenue South, which is located between East 27th and East 28th streets. The investment management firm is relocating to the building from its previous offices at 235 Park Avenue South.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.
About Impact Republic LLCImpact Republic is a strategic brand development and impact investment firm focused on building innovative brands of influence that create social impact. Impact Republic is the parent company of the strategic brand marketing firm, Thntck. (\‘thentic\) and the capital and investment advisory firm, The Kantian Group. Impact Republic partners with purpose-driven companies, non-profits and individuals to create, develop and build influential brands and programs that promote the integration and advancement of social good. Impact Republic aims to position and scale quality products, services and initiatives through impact-focused, pop culture-driven consumer partnerships, strategies and experiences.
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 and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
George Shea, Mark Faris - Shea Communications