Bloomingdale's consolidates on Third.

In a move to consolidate executive and merchandising offices and gain cost efficiencies, Bloomingdale's has leased 88,654 square feet of space at 919 Third Avenue, a few blocks from its flagship store, according to an announcement made on November 24 by Wm. A. White/Grubb & Ellis.

The department store has signed a 20 year lease for the space which includes the entire fifth, eighth and part of the third floors, according to Howard Rosen, executive vice president, and David Turino, senior vice president of Wm. A. White/Grubb & Ellis who represent the owners of 919 Third Avenue.

The transaction, one of the largest in midtown Manhattan this year, represents a consolidation of space from 240 East 59th Street, 130 East 59th Street and 1000 Third Avenue, the Bloomingdale's store.

Scott Gottlieb, managing director, and Michael R. Laginestra, executive managing director of Edward S. Gordon Company, Inc. acted on behalf of the tenant.

Alan Vaughan, managing director of the Taylor Simpson Group acted as advisor to the asset manager.

The move by Bloomingdale's is the third significant transaction within the year at 919 Third Avenue which currently has achieved 94 percent occupancy, according to Wm. A. White/Grubb & Ellis. Bloomingdale's joins Mt. Sinai Hospital and Magazine Publishers Association as new tenants in the building, accounting for 162,000 square feet leased within the past year.

"Bloomingdale's looked at various options and felt that 919 Third Avenue fit their needs from the point of view of location, quality and cost," said Howard Rosen of Wm. A. White/Grubb & Ellis. "They were particularly impressed with the capability for a fast, economic buildout after touring the new facilities created for Mt. Sinai Hospital's administrative offices at 919 Third Avenue."

"They saw an installation close to what they wanted, at a price that was within their budget," said David Turino of Wm. A. White/Grubb & Ellis. "This gave them the comfort level needed to make a commitment to the space."

Rosen said Bloomingdale's likes the unusually large floorplates at 919 Third Avenue that are virtually column-free with excellent core configuration. The eighth floor measures approximately 28,000 square feet, and the fifth floor 44,000 square feet. Bloomingdale's will also occupy some 17,000 square feet on part of the third floor.

"Ten foot picture windows on all sides provide beautiful views of the city," Rosen said. Designed by Skidmore, Owings & Merrill, 919 Third Avenue is a high profile glass faced, 47 story building distinguished for its crystalline facade and landscaped plaza.