New York, NY – November 8, 2018 – Cushman & Wakefield announced today that the firm has arranged a long term sublease at 777 Third Avenue on behalf of the sublessor, Avon Products, Inc. The subtenant, Compliance Solutions Strategies, is occupying the entire 10th floor, totaling 24,650 rentable square feet (rsf). Compliance Solutions Strategies is relocating from their current offices at 3 East 54th Street, and will use the new space for their New York office headquarters.
A Cushman & Wakefield team led by Executive Vice Chairman, Dale Schlather, with Jonathan Fales, Michael Burlant, Heather Thomas and Greg Herman, along with a team led by Michael Katz of ACTIO Corporate Asset Advisors, represented the sublessor, Avon Products, Inc., in the transaction. Jonathan Plotkin and Taylor Bell of Colliers International represented Compliance Solutions Strategies.
“This modern space with its flexible, open layout is an ideal fit for the subtenant,” said Dale Schlather of Cushman & Wakefield. “Additionally, the property’s Midtown location and accessibility to Grand Central Terminal makes 777 Third Avenue a very attractive opportunity.”
777 Third Avenue is a Class A office building located in the heart of Midtown Manhattan. The sublease offers a modern office solution with full-floor flexible, open layouts and LEED Gold certified installation. With this transaction, Avon has subleased six of the nine floors available at the property. An additional 73,950 rsf of high-end, turn-key space remains available over three floors with additional transactions expected to close shortly.
The Midtown Manhattan neighborhood is known for its abundant hotels, restaurants, shopping and private clubs offering tenants ample entertainment and dining options. The building is also transit accessible with Grand Central Terminal, the M, E, 4, 5, 6, S, and 7 subway lines and multiple Citi Bike stations in close proximity, and quick access to FDR Drive, the Queensboro Bridge and the Midtown Tunnel.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.