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Dutch bank expands space in Midtown.


Rabobank Nederland has signed a major new lease in midtown mid·town  
n.
A central portion of a city, between uptown and downtown.


midtown
Noun

US & Canad the centre of a town
 Manhattan.

The second largest domestic Dutch bank, one of only three triple A rated banks in the world according to Moody's Rating Service, has committed to an additional 33,313 square feet at 245 Park Avenue. The space is being sublet sub·let  
tr.v. sub·let, sub·let·ting, sub·lets
1. To rent (property one holds by lease) to another.

2. To subcontract (work).

n.
 from National Commercial Bank at an aggregate rent of approximately $3 million. Rabobank Nederland will use the space to expand its New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 operations at 245 Park, an Olympia & York building, to two full floors.

Rabobank is a leader in the domestic and international agribusiness agribusiness

Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts.
, trade finance and commodities sectors.

Franklin Speyer, John Peters and Louis D'Avanzo of Cushman & Wakefield, Inc. represented Rabobank Nederland. Stuart Lilien and David Zwang of Lansco represented National Commercial Bank.

Irv Hepner, Esq. of Mayer, Brown & Platt acted as outside counsel for Rabobank. Group III In the periodic table Group III covered what are now called
  • Group 13 elements: boron (B), aluminium (Al), gallium (Ga), indium (In), thallium (Tl)
  • Group 3 elements: scandium (Sc) and yttrium (Y) plus the Lanthanide and Actinide series elements.
, represented by Gene Reugamer, is Rabobank's architect for the project.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Mid-Year Review & Forecast, Section IV; Rabobank Nederland subleases commercial space at 245 Park Avenue, New York, New York
Publication:Real Estate Weekly
Date:Jun 23, 1993
Words:151
Previous Article:Market welcomes new international investors.
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