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News release

NEW YORK, NY

JLL Inks Sublease for The Children’s Aid Society at 711 Third Avenue in New York

Nonprofit organization subleases 29,240 SF from Condé Nast at Class A, 546,299-SF commercial office building


NEW YORK, April 22, 2015 — JLL completed a new transaction for The Children’s Aid Society with sublandlord Condé Nast at 711 Third Avenue. The nonprofit organization subleased 29,240 square feet from the publishing company at the Class A, 546,299-square-foot commercial office building.

The tenant was represented by Ellen Herman and Jason Schwartzenberg, executive vice presidents, with JLL. Sublandlord Condé Nast was represented by Peter Gross, senior broker and co-head of operations, with Douglas Elliman Commercial.

“The Children’s Aid Society sought new headquarters space following the sale of its long-term home at the United Charities Building on Charity Row in Manhattan,” said Herman. “The nonprofit was able to achieve exceptional value from the sale of the property and is relocating to newer space at 711 Third Avenue. The transaction puts the organization one block away from Grand Central Terminal and down the street from another of its locations.”

The Children’s Aid Society signed a five-plus-year sublease for 29,240 square feet of office space on a portion of the seventh floor at 711 Third Avenue, which is located between East 44th and East 45th streets. The organization will relocate to the building from its previous headquarters at 105 East 22nd Street, also known as the United Charities Building.

The 20-story, Energy Star-rated 711 Third Avenue was designed by William Lescaze & Associates and constructed in 1955. Building ownership recently completed a capital improvement program that included new corridors, windows and restrooms, a new entrance, and new elevator cabs and mechanicals. The lobby was also renovated to highlight a mural created and installed by abstract expressionist Hans Hoffman in 1956, and two polished stainless steel sculptures by American modernist Jose de Rivera.

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 2014, the New York tri-state team completed approximately 22.8 million square feet of lease transactions, arranged capital markets transactions valued at more than $3.0 billion, managed projects valued at $7.6 billion, and oversaw a property management, facilities management and agency leasing portfolio exceeding 163 million square feet.

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 $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 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.