Rock Center makes room for investors.CRESA Partners has negotiated a midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Manhattan lease transaction that provides Europe-based AlpInvest Partners with nearly 18,000 s/f of office space at 630 Fifth Avenue at Rockefeller Center Rockefeller Center, complex of buildings in central Manhattan, New York City, between 48th and 51st streets and Fifth Ave. and the Ave. of the Americas (Sixth Ave.). The project was sponsored by John D. Rockefeller, Jr. . AlpInvest, a private-equity investment management firm headquartered in Amsterdam, is relocating from 600 Fifth Avenue under terms of a ten-year, six-month lease. "AlpInvest required substantially more space to meet the demands of its growing operations, and it wanted to remain in the centrally-located Rockefeller Center neighborhood," says Marcus Rayner, principal of CRESA Partners. "Although Rockefeller Center's vacancy rates were extremely low, ownership was very accommodating in structuring a transaction that met AlpInvest's long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. ." Mr. Rayner and Ed Wartels, associate at CRESA Partners, represented AlpInvest Partners. Edward J. Gargiulo of Tishman Speyer Properties Tishman Speyer Properties is a leading real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman. Overview represented ownership. |
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