After increased activity, only one floor remains available for sublease
New York, NY – April 4, 2019 – Cushman & Wakefield announced today that the firm has arranged an additional sublease totaling 24,650 rentable square feet (rsf) at 777 Third Avenue on behalf of the sublessor, Avon Products, Inc., who has relocated their global headquarters to the U.K. The subtenant, WestPoint Home, will sublease the entire 7th floor.
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 and Zach Cherney of ACTIO Corporate Asset Advisors, represented the sublessor, Avon Products, Inc., in the transaction. Michael Monahan and Paul Walker of CBRE represented the subtenant, WestPoint Home.
“The property’s open floor plans and flexibility, along with its superior, transit-oriented location have greatly contributed to the vast interest and successful subleasing we’ve had in the building this year,” said Dale Schlather of Cushman & Wakefield. “After this transaction, Avon only has one floor left available for sublease.”
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 layouts and a recent LEED Gold certified installation. With this transaction, Avon has subleased eight of the nine floors available and only an additional 24,650 rsf of high-end, turn-key space remains on the 8th floor.
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 for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 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.