|
EW YORK CITY - Ashley Capital, one of the largest privately-held real estate investment companies in the U.S., has leased a nearly 5,000-square-foot high-end pre-built on the 45th floor at One Grand Central Place for its headquarters, announces Fred C. Posniak, senior vice president of W&H Properties.
The 26-year-old firm is relocating from 919 Third Avenue, and will occupy its new space this month.
Ashley Capital acquires, develops and redevelops industrial and office property. Its portfolio contains approximately 22 million square feet, mostly in the eastern half of the U.S. It has offices in Atlanta; Chicago; Detroit; Grand Rapids, Michigan; and Norfolk, Virginia.
Jason Lund of Cushman & Wakefield represented Ashley Capital in the lease negotiations. William Cohen, Ryan Kass and Alison Coffey of Newmark Knight Frank represented the landlord.
"This lease is further evidence of the success of the pre-built program at One Grand Central Place," says Mr. Posniak. "Presently, there is only one available high-end tower pre-built unit remaining in the building, which is a testament to the property's high-end finishes and stunning views. The other trend we have noticed is the recent development of tenants relocating from glass-box office buildings to our pre-war trophy office properties."
The high-end pre-builts at the property have been setting new standards for the industry, Mr. Posniak continues. They offer up to 11-foot ceiling heights, above-standard lighting and flooring, top-of-the-line pantries with stainless steel upper and lower cabinetry and stone counter-tops, designer appliances and window treatments, and highly efficient layouts with a great deal of glass, wood and sidelights.
Mr. Posniak notes that the pre-built units are attracting many financial firms to the building. Recent additions to the tenant roster, besides Ashley Capital, include Pine Brook Road Partners, a private equity firm; Prager, Sealy & Co., an investment services firm; Tenex Capital Management; and Investors Savings Bank.
Rising 55 stories directly opposite Grand Central Terminal, One Grand Central Place provides a white-glove corporate environment with unparalleled convenience. It offers direct in-building access to Grand Central Terminal, including Metro North and the 4, 5, 6, 7 and Times Square shuttle subway lines, and unsurpassed on-site services and amenities, including a visitor center, messenger center, multimedia conference center and law library.
The state-of-the-art property has undergone $85 million of upgrades to its windows, elevators, air-conditioned public corridors and restrooms, and building-wide systems, including electrical, plumbing, HVAC and security.
Part of the W&H Properties Pre-War Trophy office portfolio, One Grand Central Place is owned by Lincoln Building Associates LLC, a partnership led by Peter L. Malkin and Anthony E. Malkin, one of New York City's most financially stable ownerships.
|
