375,000 SF of Office Space for Lease

Posted by admin on March 17, 2009 under Old News - and some New | Be the First to Comment

NEW YORK CITY-Teachers Insurance and Annuity Association, or TIAA-CREF, is putting around 375,000 square feet of its owner-occupied headquarters at 730 Third Ave. on the market today, sources tell GlobeSt.com.

The 90-year-old annuity financial services firm, founded by Andrew Carnegie, reportedly…  lost around $3.3 billion over the past year but still maintained around $17.8 billion in capital by year’s end. The company has earned triple A ratings as well.

Nonetheless, exclusive leasing agent CB Richard Ellis will immediately begin marketing built floor space that ranges in size from 8,000 to 45,000 square feet at the firm’s Midtown headquarters near Grand Central Terminal. Sources tell GlobeSt.com that building owners would also be willing to negotiate larger tracts of space for interested parties. Built in the 1950s, the building was refurbished and modernized in the 1990s.

The property has a contemporary double-height lobby facing Third Avenue, along with secondary access on 45th Street that could become a private entrance for a prospective tenant, according to CBRE. It also features an outdoor plaza on the 22nd floor and a conference and auditorium floor, both of which will be available to all incoming tenants, CBRE says.

Building agents for the property are CBRE vice chair Howard Fiddle and first VPs Zachary Freeman and David Kleinhandler. Also part of the leasing team are CBRE’s global corporate services group led by senior VP Bill Mooney and first VP Joshua Leibowitz.