NEW YORK—Peter B. Cannell & Co. Inc., an investment advisory firm, has signed a 10-year, 8,802-sq.-ft. lease to occupy the entire 11th floor at 545 Madison Avenue. Developed by LCOR the 17-story, 140,000-sq.-ft. office/rental building is now 88 percent leased.
CBRE’s Gregg Rothkin, Paul Milunec, Keith Cody, Robert Kluge and Bob Flippin represented LCOR in the transaction. Cushman and Wakefield’s Don Preate and Jon Mayeske represented the tenant in the transaction.
Peter B. Cannell & Co, Inc. will be using its new space as a headquarters. Building ownership will create a build-to-suit space for the firm at the LEED Gold certified, Class A office tower.
Located at the corner of 55th Street and Madison Avenue in the Plaza District, 545 Madison Avenue also includes tenants such as Ogden CAP, Cliffwater L.L.C. and Home Shopping Network, among others.
The property underwent extensive renovations that were completed in 2008. Included in the renovations was the replacement of the façade with glass curtain-wall recladding and the installation of new electrical and mechanical systems, as well as new elevators.