{"id":33599,"date":"2018-11-23T15:00:19","date_gmt":"2018-11-23T13:00:19","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=33599"},"modified":"2018-11-23T15:46:16","modified_gmt":"2018-11-23T13:46:16","slug":"bloomberg-renews-lease-at-120-park-avenue","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/23\/bloomberg-renews-lease-at-120-park-avenue\/","title":{"rendered":"Bloomberg Renews Lease at 120 Park Avenue"},"content":{"rendered":"

Bloomberg L.P. has recently renewed the lease for its 468,000 square feet of Midtown Manhattan office space<\/a> at 120 Park Avenue<\/a>. Former Mayor Michael Bloomberg\u2019s media company will stay for at least another ten years in the building next to the Grand Central Terminal.<\/p>\n

The 630,000-square-foot, class A+ office property at 120 Park Avenue<\/a> is currently owned by Global Holdings Group. Bloomberg will continue to occupy the 8th through 23rd floors in the building. The company has been there since 2011, when it outgrew its 1.3 million-square-foot headquarters at 731 Lexington Avenue<\/a>. While the original lease was supposed to end in 2020, the new one is set to last until February 2029.<\/p>\n

\"Image<\/a>

120 Park Avenue (PropertyShark)<\/p><\/div>\n

\u201cWe are excited to reach a new deal with Bloomberg to lease space in one of New York City\u2019s finest office towers until 2029,\u201d Eyal Ofer, Global Holdings Group\u2019s Chairman, told Real Estate Weekly<\/em><\/a>. \u201c120 Park Avenue is an incredible building, with first-class amenities, panoramic views of the city and direct access to Grand Central Station, making it one of the most accessible and convenient locations in Manhattan. Securing a tenant like Bloomberg for the long-term is a testament to the building\u2019s quality, and we look forward to extending our relationship for another decade.\u201d<\/p>\n

A JLL team consisting of Paul Glickman and Diana Biasotti represented the landlord in the deal. CBRE\u2019s Howard Fiddle and Craig Reicher acted on behalf of Bloomberg.<\/p>\n

120 Park Avenue is 100 percent occupied; other tenants in the building include Oracle and Phillip Morris, which had the office tower built in 1981 as its corporate headquarters. Global Holdings purchased the property in 2008, when the tobacco company decided to relocate its main operations to Virginia, for approximately $525 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg L.P. has recently renewed the lease for its 468,000 square feet of Midtown Manhattan office space at 120 Park Avenue. Former Mayor Michael Bloomberg\u2019s media company will stay for at least another ten years in the building next to the Grand Central Terminal. The 630,000-square-foot, class A+ office property at 120 Park Avenue is…<\/p>\n","protected":false},"author":61,"featured_media":33603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89,376],"tags":[],"class_list":["post-33599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manhattan-real-estate","category-new-york-commercial-real-estate"],"yoast_head":"\nBloomberg Renews Lease at 120 Park Avenue - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"Bloomberg L.P. has recently renewed the lease for its 468,000 square feet of Midtown Manhattan office space at 120 Park Avenue.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/23\/bloomberg-renews-lease-at-120-park-avenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg Renews Lease at 120 Park Avenue\" \/>\n<meta property=\"og:description\" content=\"Bloomberg L.P. has recently renewed the lease for its 468,000 square feet of Midtown Manhattan office space at 120 Park Avenue.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2018\/11\/23\/bloomberg-renews-lease-at-120-park-avenue\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-23T13:00:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-23T13:46:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2018\/11\/grand_central_terminal.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexandra Farcas\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexandra Farcas\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bloomberg Renews Lease at 120 Park Avenue - 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