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News release

NEW YORK, NY

Jones Lang LaSalle Inks 12,723-SF Lease for 3i at One Grand Central Place in New York

Premier debt management company to occupy entire 41st floor at Class A, 1.3 MSF commercial office tower


NEW YORK, February 14, 2014 — Jones Lang LaSalle has completed a new, direct lease for 3i Debt Management US LLC at One Grand Central Place, located at 60 East 42nd Street. The debt management services firm signed a 10-year lease for 12,723 square feet at the Class A, 1.3 million-square-foot commercial office building.

The tenant, 3i Debt Management, was represented by Alexander Chudnoff, vice chairman, and Dan Turkewitz, senior vice president, both with JLL. The building owner, Empire State Realty Trust, was represented in-house by Ryan Kass, senior vice president and director of leasing and marketing, along with William Cohen, executive vice president and principal, with Newmark Grubb Knight Frank.

“3i Debt Management’s business was thriving, and the company sought larger offices in a high-end building that could accommodate its growth,” said Chudnoff. “Empire State Realty Trust was able to provide the debt management services firm with a full floor in an iconic building. One Grand Central Place is physically connected to Grand Central Terminal, offering direct access to Metro-North and the 4, 5, 6, 7 and Shuttle subway lines.”

3i Debt Management will occupy the entire 41st floor at One Grand Central Place, which is located between Madison and Park avenues. The debt management services firm is relocating to the office tower from its existing offices at 400 Madison Avenue.
One Grand Central Place, formerly known as the Lincoln Building, is the second-largest building in the Empire State Realty Trust portfolio. The 55-story office building was designed by J.E.R. Carpenter and constructed in 1930.

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 3i Debt Management US LLC
3i Debt Management US LLC is a privately-held company that provides debt management services. The company is a joint venture formed in 2012 by 3i Group and WCAS Fraser Sullivan Investment Management. 3i, the Debt Management group’s parent, is one of the world's leading international investors, with almost £12bn of assets under management focusing on private equity, infrastructure and debt management.

About Jones Lang LaSalle
Jones 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 $4.0 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 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.