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News release

NEW YORK, NY

JLL Relocates Toy Industry Association to 1375 Broadway

Not-for-profit trade association inks 10-year lease for 16,833 square feet at Class A, 510,000-square-foot office building


New York, August 30, 2016 JLL has completed a new, direct transaction for the Toy Industry Association Inc. at 1375 Broadway with Westbrook Partners. The not-for-profit trade association signed a lease for 16,833 square feet of space at the Class A, 510,000-square-foot office building.

The tenant was represented by Ellen Herman, executive vice president, and TJ Hochanadel, vice president, both with JLL. Building owner Westbrook Partners was represented by Paul Amrich, vice chairman and Neil King, senior vice president, with CBRE Inc.

"The Toy Industry Association represents the ultimate in creative companies, businesses involved in the design, manufacture and creation of toys and youth entertainment products," said Herman. "We were able to find new, modern space in a unique building that ensures the trade association remains centrally located for the benefit of its employees and the companies involved in the industry sector it represents."

The Toy Industry Association signed a 10-year lease for 16,833 square feet of office space and will occupy a portion of the 10th floor at 1375 Broadway, which is located between West 37th and West 38th streets. The trade association is relocating to the building from its previous offices at 1115 Broadway.

The 26-story 1375 Broadway was designed in the Art Deco style by Buchman & Kahn, with construction completed in 1928. Westbrook Partners acquired the property from Savanna in mid-2015. Prior to the sale, the office building underwent a multimillion dollar capital improvement program that included a new, modern entrance and lobby.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,300 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2015, the New York tri-state team completed approximately 32.6 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $8.2 billion; managed projects valued at $7.8 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 141 million square feet.

 

About the Toy Industry Association

Founded in 1916, the Toy Industry Association Inc. (TIA) is the not-for-profit trade association representing all businesses involved in creating and delivering toys and youth entertainment products for kids of all ages. Over the past 100 years, TIA has led the health and growth of the toy industry, and today its 900+ members account for an estimated 90% of the annual $24 billion U.S. domestic toy market. The Association serves as the industry's voice on the cognitive, social, emotional and creative benefits of play, and promotes play's positive impact on childhood development to consumers and media. TIA has a long history of leadership in toy safety, having helped develop the first comprehensive toy safety standard more than 40 years ago, and remains committed to working with medical experts, government, consumers and industry on ongoing programs to ensure safe and fun play. www.toyassociation.org

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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 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.