ICSC to Open New HQ in New York City

By Holly Dutton

1251 Avenue of the Americas

The International Council of Shopping Centers (ICSC) has signed a lease for its global headquarters at Mitsui Fudosan America Inc.’s (MFA) New York City office tower 1251 Avenue of the Americas. ICSC will occupy the entire 45^th floor, with a total of 44,100 square feet.

ICSC, the global association representing the retail sector, will move from its current home nearby at 1221 Avenue of the Americas to its new location by mid to late 2019 for a 16-year term. Other tenants at 1251 Avenue of the Americas include Mizuho Corporate Bank, McGuire Woods LLP, DLA Piper, Berenberg Capital Markets and McGraw Hill Financial.

In 2019, MFA will invest in several upgrades to the asset, including a redesign of the lobby, upgrade of the elevator system and the addition of new restaurants.

JLL’s Chris Kraus and Daoud Awad represented ICSC in the lease. NKF’s David Falk, Peter Shimkin, Eric Cagner and Nick Berger represented MFA.

“We are delighted to welcome this prestigious organization to 1251 Avenue of the Americas,” said Christopher Perez, senior vice president of MFA, in a prepared statement. “Sixth Avenue is more vibrant today than any time in its history, and its location in the heart of Midtown provides ICSC with ideal access to its retail and real estate members.”

MFA has been very active in New York City over the past few years. The firm is one of three developers that teamed up to build 50 Hudson Yards, a forthcoming $3.9 billion office tower, and in 2015 the firm purchased a majority stake in 55 Hudson Yards.

Image courtesy of Mitsui Fudosan America Inc.