{"id":1004650249,"date":"2023-03-09T01:59:14","date_gmt":"2023-03-09T09:59:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004650249"},"modified":"2023-03-09T01:59:16","modified_gmt":"2023-03-09T09:59:16","slug":"atco-inks-3-lease-expansions-in-manhattan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atco-inks-3-lease-expansions-in-manhattan\/","title":{"rendered":"ATCO Inks 3 Lease Expansions in Manhattan"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" alt=\"381 Park Ave. S.\" class=\"wp-block-jetpack-slideshow_image wp-image-1004650259\" data-id=\"1004650259\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/381-Park-Ave.-S..jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/381-Park-Ave.-S..jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/381-Park-Ave.-S..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/381-Park-Ave.-S..jpg?resize=768,576 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">381 Park Ave. S. All images courtesy of ATCO Properties &amp; Management <\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" alt=\"630 Third Ave. \" class=\"wp-block-jetpack-slideshow_image wp-image-1004650260\" data-id=\"1004650260\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/630-Third-Ave.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/630-Third-Ave.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/630-Third-Ave.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/630-Third-Ave.jpg?resize=768,576 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">630 Third Ave. <\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" alt=\"373 Park Ave. S. \" class=\"wp-block-jetpack-slideshow_image wp-image-1004650258\" data-id=\"1004650258\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/373-Park-Ave.-S.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/373-Park-Ave.-S.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/373-Park-Ave.-S.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/373-Park-Ave.-S.jpg?resize=768,576 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">373 Park Ave. S. <\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p><strong>ATCO Properties &amp; Management <\/strong>has signed three lease renewals totaling 17,477 square feet across three of its office buildings in Midtown Manhattan. <strong>SimpleBet<\/strong>, <strong>Electra Information Systems <\/strong>and <strong>All Nippon Airways <\/strong>expanded their footprints in the borough.<\/p>\n<p>Sports betting technology company SimpleBet extended its ninth-floor lease at the 12-story, 110,000-square-foot 373 Park Ave. S. <strong>Raise Commercial Real Estate<\/strong> Managing Director Jamie Katcher and Senior Advisor Henry Korzec brokered the agreement on behalf of the tenant, while <strong>Colliers<\/strong> Vice Chair Robert Tunis, Associate Kyle Berlinsky and Managing Director Joseph Mangiacotti represented the landlord. The asking rent was set for $62 per square foot. According to CommercialEdge, Aegis, LaunchSquad, Advanced Focus and RRU Research also have leases at the property.\u00a0<\/p>\n<p>Data acquisition and delivery service firm Electra Information Systems renewed its 4,494-square-foot commitment on the 14th floor within the neighboring 17-story, 228,000-square-foot 381 Park Ave. S. ATCO Co-President Hemmerdinger Goodman handled the lease signing in-house. The agreements did not involve any brokers representing the tenant and the asking rent was $66 per square foot. Electra joins the existing roster at the property, which includes EVOS, Valerio Architects, NYFF Events and Fleischman Salon, among others.\u00a0<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/what-lies-ahead-for-the-office-sector-in-2023\/\">What\u2019s Ahead for the Office Sector in 2023<\/a><\/p>\n<hr \/>\n<p>All Nippon Airways will relocate on the 5th floor at 630 Third Ave. The Japanese airline signed a 7-year lease to occupy 4,251 square feet within the 252,000-square-foot building. <strong>Newmark <\/strong>Associate Director Brittany Silver and Managing Director Jonathan Franzel assisted the landlord, while <strong>JLL <\/strong>Senior Vice President Dan Santagata and Managing Director TJ Hochanadel handled the lease signing on behalf of the tenant. The asking rent was $65 per square foot.<\/p>\n<p>In the second half of 2022, Slovenia&#8217;s consulate also doubled its commitment at ATCO&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/atco-inks-lease-extension-at-manhattan-office-tower\/\">23-story tower<\/a>.<\/p>\n<h2>Leasing in Manhattan remains robust despite high vacancy and rents<\/h2>\n<p>According to a recent <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge report<\/a>, the Manhattan office market experienced the most rapid increase in vacancy rates among the Northeast markets, with a 2.6 percent year-over-year increase, to reach 15.4 percent in January. The same source reveals that Manhattan remains the market with the highest asking rates during last year, averaging at $75.74 per square foot. Despite this, leasing activity persisted in the borough.<\/p>\n<p>Earlier this month, sovereign wealth fund Temasek International extended and expanded its lease agreement at <a href=\"https:\/\/www.commercialsearch.com\/news\/rfr-inks-lease-in-midtown-manhattan\/\">RFR Realty&#8217;s Seagram Building <\/a>in Midtown Manhattan.\u00a0Last month, JEMB Realty Corp. executed <a href=\"https:\/\/www.commercialsearch.com\/news\/jemb-realty-inks-new-leases-at-historic-manhattan-tower\/\">three leases totaling 32,000 square feet<\/a> at the 720,000-square-foot 75 Broad St. in Downtown. Rudin Management Co. also signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/rudin-lands-60-ksf-tenant-in-lower-manhattan\/\">59,550-square-foot, 15-year lease<\/a> at 80 Pine St., within the Financial District.<\/p>","protected":false},"excerpt":{"rendered":"<p>Despite high office vacancy, the borough still has the highest average asking rate in the country.<\/p>\n","protected":false},"author":3030,"featured_media":1004650259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[38152,35498,32796,50999,51820],"class_list":["post-1004650249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-atco-properties","tag-colliers","tag-jll","tag-newmark","tag-raise-commercial-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ATCO Inks 3 Lease Expansions in Manhattan - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"ATCO Properties &amp; 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