JLL completes 120,720-sf lease for FTI Consulting, Inc.
Business advisory firm consolidates New York City presence on three floors of iconic tower
NEW YORK, August 28, 2020 — Edward J. Minskoff Equities Inc. and JLL have announced that FTI Consulting, Inc. (NYSE:FCN), a global business advisory firm, has signed a long-term lease for 120,720 square feet of space on three floors at 1166 Avenue of the Americas. With the completion of this transaction, JLL has leased more than 560,000 square feet of space in the 1.6 million-square-foot office tower.
FTI Consulting will occupy the entire 14th, 15th and 16th floors in the Class-A office building located between West 45th and West 46th streets in Manhattan. The transaction is one of the largest Manhattan office leases signed since the outbreak of the COVID-19 pandemic. FTI Consulting will consolidate multiple offices into the space, which will serve as its New York City headquarters.
“We are pleased that FTI Consulting will join the prestigious community of tenants in the building,” said Edward J. Minskoff. “We have recently completed a comprehensive renovation of the property, and we continue to expand services and amenities for our tenants.”
“Minskoff has continually invested to enhance 1166 Avenue of the Americas, further positioning the property as a leading Midtown office destination,” said Paul N Glickman, vice chairman with JLL. “Edward Minskoff has curated the lobby with extraordinary artwork, creating a distinct aesthetic for the entire property.”
Minskoff is creating a 12,000-square-foot, multi-purpose conference center on the 12th floor of the building. This follows a redesign by Gensler of the building’s lobby, lighting, outdoor canopies and security features. The recently-completed lobby showcases signature works of art, including tapestries by Roy Lichtenstein, sculptures by KAWS and Tom Otterness, paintings by Yayoi Kusama and Harmony Korine, and a monument model by Claes Oldenburg and Coosje van Bruggen. The lobby renovation recently received the Landlord Architectural Achievement award from the Avenue of the Americas Association. Minskoff has also enhanced the office property’s telecommunications infrastructure to be listed as Wired Certified Gold with WiredScore.
Minskoff was represented by the JLL team of Glickman; Jonathan Fanuzzi, managing director; Cynthia Wasserberger, vice chair; and Diana Biasotti, senior vice president. Jeffrey Sussman, executive vice president, led the leasing effort in-house for Minskoff.
The tenant was represented by Connor Faught, senior vice president, enterprise solutions, Brian Given, vice chairman, Sheena Gohil, executive director, Robert Gallucci, executive director and Jim Southard, senior managing director with Colliers International. Daniel Johnson, vice president, global real estate and facilities, and Chuck Cerria Jr., director, global real estate, represented FTI Consulting in-house. Trevor Adler, partner, and Ida Phair, associate, of Stroock & Stroock & Lavan LLP represented the property owner in the transaction and Bruce Saber, partner, and Genta Stafaj, associate, with DLA Piper LLP represented the tenant.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.