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News release

NEW YORK, NY

JLL Tapped as Exclusive Leasing Agent for 129 Fifth Avenue

Premiere Flatiron retail space hits market, firm to lease two-level, 8,987-SF retail cooperative in historic district


NEW YORK, September 15, 2014 — Madison Capital has selected JLL as exclusive leasing agent for the retail property at 129 Fifth Avenue. The firm will provide a full range of property marketing and transactional services for the 8,987-square-foot retail cooperative, currently occupied by Armani Exchange.

The JLL team handling the agency leasing assignment includes Amy Zhen, senior vice president and Bob Gibson, vice chairman of retail services in New York.

“Situated in the heart of Manhattan’s historic Flatiron District, 129 Fifth Avenue offers a prime location for a retailer looking for a strong co-tenancy,” said Zhen. “The property is surrounded by world-class retailers, such as Zara, Michael Kors, Intermix, Cole Haan and H&M; multiple restaurants and entertainment options such as Mario Batali & Co.’s Eataly market; and a dense population of office workers — all of which draw heavy traffic to lower Fifth Avenue and make this a highly attractive opportunity.”

Madison Capital acquired the retail unit at 129 Fifth Avenue earlier this year. The two-level space, which will become available at the end of January 2015, comprises 4,047 square feet of ground-floor retail, offering up to 19-foot ceiling heights and 4,940 square feet of lower-level retail space. The property features 45 feet of frontage along Fifth Avenue.

“This is a great location along the dynamic shopping corridor of lower Fifth Avenue, an area that is attracting droves of millennials and young professionals,” said Gibson. “The residents of this neighborhood are high-income individuals, and when their spending power is combined with a robust office, tourist and student population, the area boasts an annual spending power of more than $9 billion. The growing number of high-end hotels and restaurants in close proximity to 129 Fifth Avenue make for heavily trafficked streets.”

Designed by Israels & Harder and constructed in 1904 as commercial space for Lord & Taylor, 129 Fifth Avenue boasts a classic Beaux Arts design with intricate marble and glass detailing. The landmark property was considered the first department store to open on Fifth Avenue.

JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 90 retail brokerage experts spanning more than 25 major markets, representing more than 440 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has 350 centers, totaling 67 million square feet under management in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects.

For more news, videos and research from JLL’s Retail Group, please visit: www.jllretail.com.

About Madison Capital
Madison Capital is a leading real estate investment and operating company focused on acquiring and repositioning superior urban retail and mixed-use assets in dynamic markets including New York and other gateway cities.  Madison owns and manages a portfolio of approximately $2.1 billion with a focus on income-producing and value-add opportunities in interesting, evolving neighborhoods.  Madison provides a full range of acquisition, financing, construction management, asset management, leasing, property management, accounting, risk management and disposition services that seek to maximize value.  Madison's strategy, combined with its creative, entrepreneurial approach and integrated operating platform, has resulted in consistent, successful investments for the firm and its partners. For additional information, please visit www.mcapny.com.

About JLL
JLL (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 fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​