{"id":1004045687,"date":"2012-08-22T06:05:38","date_gmt":"2012-08-22T14:05:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004044927"},"modified":"2022-12-09T02:15:47","modified_gmt":"2022-12-09T10:15:47","slug":"jll-completes-96350-sf-deal-for-perry-ellis-at-1120-avenue-of-the-americas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-completes-96350-sf-deal-for-perry-ellis-at-1120-avenue-of-the-americas\/","title":{"rendered":"JLL Completes 96,350-SF Deal for Perry Ellis in 1120 Avenue of the Americas"},"content":{"rendered":"<div id=\"attachment_1004044930\" style=\"width: 176px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/jll-completes-96350-sf-deal-for-perry-ellis-at-1120-avenue-of-the-americas\/1004044927.html\/attachment\/martin-robert-2\" rel=\"attachment wp-att-1004044930\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004044930\" data-attachment-id=\"1004044930\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cpe_2012awards_300x63_exception_v2-50x50\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/CPE_2012awards_300x63_Exception_v2-50x50.jpg\" data-orig-size=\"50,50\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"CPE_2012awards_300x63_Exception_v2-50&#215;50\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/CPE_2012awards_300x63_Exception_v2-50x50.jpg?w=50\" class=\" wp-image-1004044930      \" title=\"Martin, Robert\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Martin-Robert1.jpg\" alt=\"\" width=\"166\" height=\"181\" \/><\/a><p id=\"caption-attachment-1004044930\" class=\"wp-caption-text\">Robert Martin, JLL vice chairman<\/p><\/div>\n<p>By Gail Kalinoski, Contributing Editor<\/p>\n<p>Perry Ellis International is consolidating two office locations in midtown Manhattan and leasing more than 96,000 square feet of Class A space at 1120 Avenue of the Americas for its menswear operations in a long-term deal arranged by Jones Lang LaSalle.<\/p>\n<p>Nearly 60,000 square feet of the space will be subleased from Huron Consulting Group, which will eventually become a direct lease. The remainder of the space at the site, also known as the Hippodrome Building, is a long-term, direct lease with building owner, Edison Properties L.L.C. The international apparel and accessories design firm is taking the entire eighth and 14<sup>th<\/sup> floors and part of the seventh floor.<\/p>\n<p>\u201cPerry Ellis was attracted to the Hippodrome Building by the unique nature of the eighth floor. The floor offers a double-height ceiling with terrific lights and an open feel,\u201d said Robert Martin, a JLL vice chairman who arranged the deal with his colleagues, Vice Chairman Matthew Astrachan; Executive Managing Director Alexander Chudnoff and Brad Lane, an associate.<\/p>\n<p>Huron Consulting was also represented by Jones Lang LaSalle. Lisa Kiell, managing director, and Douglas Neye, senior vice president, handled that firm\u2019s interests.\u00a0 Edison Properties had Michael Burgio, John Cefaly and Gus Field, all vice chairmen with Cushman &amp; Wakefield, as its representatives.<\/p>\n<p>Originally the site of the Hippodrome Theatre from 1905 to 1939, the office building was erected in 1954. Located between 43<sup>rd<\/sup> and 44<sup>th<\/sup> streets on 6<sup>th<\/sup> Avenue, the 21-story building was renovated about six years ago. The state-of-the art building earned silver LEED certification last year.<\/p>\n<p>\u201cThis transaction is ideal for Perry Ellis, as it allows the designer to consolidate its menswear operations into one high-end building\u201d said Astrachan. \u201cThe new space allows Perry Ellis to remain near Bryant Park, and 1120 Avenue of the Americas is located in close proximity to both of its other existing locations.\u201d<\/p>\n<div id=\"attachment_1004044932\" style=\"width: 220px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/mid-atlantic\/jll-completes-96350-sf-deal-for-perry-ellis-at-1120-avenue-of-the-americas\/1004044927.html\/attachment\/astrachan-matthew\" rel=\"attachment wp-att-1004044932\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004044932\" data-attachment-id=\"1004044932\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cpe_2012awards_300x63_exception_v21-50x50\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/CPE_2012awards_300x63_Exception_v21-50x50.jpg\" data-orig-size=\"50,50\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"CPE_2012awards_300x63_Exception_v21-50&#215;50\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/04\/CPE_2012awards_300x63_Exception_v21-50x50.jpg?w=50\" class=\" wp-image-1004044932       \" title=\"Astrachan, Matthew\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/Astrachan-Matthew.jpg\" alt=\"\" width=\"210\" height=\"203\" \/><\/a><p id=\"caption-attachment-1004044932\" class=\"wp-caption-text\">Matthew Astrachan, JLL vice chairman<\/p><\/div>\n<p>Martin and Astrachan told <em>Commercial Property Executive<\/em> that Perry Ellis is gaining a \u201cmodest increase\u201d in square footage by consolidating into one space from its previous offices for the menswear division at 1114 Avenue of the Americas and 42 West 39<sup>th<\/sup> St.<\/p>\n<p>Tenants at 1120 Avenue of the Americas include American Express Publishing, Macy\u2019s Merchandising Group, and BBC America. JLL represented both BBC America and Huron several years ago when they leased space at the building, according to Martin and Astrachan.<\/p>\n<p>Cushman &amp; Wakefield noted in its Q2 Marketbeat Office Snapshot report that rents are continuing to move steadily higher in Manhattan, with Midtown asking rents up about 5 percent from a year ago. Class A office rents in the Times Square south submarket, where 1120 Avenue of the Americas is located, are in the $70s range. CBRE stated in its August 2012 Manhattan Marketview Snapshots report there was 1.22 million square feet of leasing activity in July for Midtown, the second month of above-average leasing for a total of 6.93 million square feet leased so far this year. But it\u2019s nearly 4 million square feet less than last year at the same time. Cushman &amp; Wakefield expects there will be only \u201cmoderate levels of leasing and flat to slightly lower vacancy with rents tending to slowly move higher\u201d for the remainder of this year.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Perry Ellis will lease a Class A space in New York City&#8217;s famous 1120 Avenue of the Americas building to give the designer label more open space for its menswear collection.<\/p>\n","protected":false},"author":952,"featured_media":1004536193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,11,21742,21747,21749],"tags":[],"class_list":["post-1004045687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-midatlantic","category-latest","category-office","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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