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News release

NEW YORK

JLL Inks New Transaction for Edward J. Minskoff at 1166 Avenue of the Americas

Arcesium signs lease for 39,075 square feet; will occupy entire fourth floor at 1.6-MSF, Class A Midtown office building


NEW YORK, November 28, 2016 JLL, in conjunction with Edward J. Minskoff Equities Inc., has completed a new, direct lease, totaling 39,074 square feet, for Arcesium LLC at 1166 Avenue of the Americas, a Class A, 1.6 million-square-foot office building between West 45th Street and West 46th Street in Manhattan. The technology and services company inked a lease for the entire fourth floor of the building.

Minskoff was represented by the JLL team of Paul N. Glickman, vice chairman; Cynthia Wasserberger, managing director; Jonathan Fanuzzi, executive vice president; and Diana Biasotti, senior vice president. Arcesium was represented by Timothy Dempsey, vice chairman; Roger Griswold, senior vice president; and Munish Viralam, first vice president, with CBRE Inc.

"1166 Avenue of the Americas is a premier asset in an ideal location," said Glickman. "Ownership's repositioning effort establishes the property among the top offerings on the Sixth Avenue corridor with convenient proximity to Bryant Park, Rockefeller Center and all three major commuting hubs — Grand Central Terminal, Times Square / Port Authority and Penn Station."

Minskoff engaged JLL as exclusive leasing agent to lead a repositioning and leasing effort for the property, and recently launched a multimillion-dollar capital improvement program at the office tower, retaining Gensler to re-design the lobby, lighting, outdoor canopies and security features. The lobby is expected to be completed in the first quarter of 2017, and will showcase signature pieces of art, including Roy Lichtenstein's "Modern Tapestry" and "Amerind Landscape" tapestries, and Kaws's "Along the Way" sculpture. Minskoff also has enhanced the office property's telecommunications infrastructure to be listed as Wired Certified Gold with WiredScore.

1166 Avenue of the Americas, a 44-story, center-core building with remarkable light and views, offers floor plates of 40,000 square feet in a neighborhood that appeals to companies from a host of sectors, including TAMI, financial services, technology, social media, fashion/apparel and entertainment. The building was designed by Skidmore, Owings & Merrill and constructed in 1974.

JLL is leasing and marketing approximately 120,000 square feet of space at the building, including the entire 3rd floor (39,075 square feet) and the entire 20th floor and 21st floor (comprised of 40,240 square feet each). The 20th floor and 21st floor are in white-boxed condition, with a marketing center for 1166 Avenue of the Americas recently completed on the 20th floor.

An additional large block of space, 241,000 square feet, will become available at 1166 Avenue of the Americas in 2021. JLL and Minskoff have collaborated on two other high-profile New York office buildings — 51 Astor Place and 101 Avenue of the Americas — both of which are now 100 percent leased.

D. E. Shaw & Co. L.P. recently completed a 195,375-square-foot lease renewal and will continue to occupy the 5th through 9th floors at 1166 Avenue of the Americas. In addition, Sprint Communications recently signed a 10-year lease renewal for 39,075 square feet and will continue to occupy the entire second floor at the property. The telecommunications company's space at the office tower includes a Sprint Executive Briefing Center (EBC), one of three centers that Sprint operates throughout the United States. The EBC allows Sprint to offer tailored briefings and interactive discussions to prospective customers to demonstrate how the telecommunications company can meet their business objectives.

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.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company 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. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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.