Center on Addiction to Relocate Manhattan HQ
Cushman & Wakefield represented the tenant, which is expected to occupy the space in 2020.
711 Third Avenue
SL Green has signed a 15-year, 30,000-square-foot lease with the National Center on Addiction and Substance Abuse, which will occupy a portion of the fifth floor at 711 Third Avenue, a 20-story building located just one block from Manhattan’s Grand Central Terminal. The tenant, which currently occupies more than 27,000 square feet at 633 Third Avenue, according to Yardi Matrix, will relocate to a fully furnished temporary office at 485 Lexington Ave., while the new space is being constructed. Completion is scheduled for September 2020.
SL Green acquired the Class A, 592,000-square-foot building in 1998 and completed cosmetic upgrades program in 2010. The owner added a gallery-style lobby, new elevator cabs and refurbished the restrooms. The property, which was completed in 1956, offers a three-level 165-car parking garage and has an Energy Star efficiency certificate. Tenants at 711 Third Avenue also include McKinsey & Co., New York Mutual Trading and Parade.
Josh Kuriloff, Matthias Li and Adam Nelson of Cushman & Wakefield represented the tenant, while the landlord represented itself. Earlier this month, SL Green has also agreed to renew BMW’s lease in the 20-story tower at 555 W. 57th St.
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