Wells Fargo Company inks deal for 35,000 s/f at 330 Madison.Acordia, a Chicago-based Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Company, which provides insurance brokerage, administrative services and a wide range of financial and consulting services to clients throughout America, has just signed a ten-year 35,045 s/f lease on the seventh floor of 330 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. . The deal, with options to expand even further during the term, represents a 5,000-square foot expansion from Acordia's former premises at 90 Park Avenue. Both properties are owned by Vornado. CB Richard Ellis' Richard Karson, James Robbins and Harly Stevens arranged the transaction on behalf of Acordia, while Tom Costanza acted in-house for Vornado. "This transaction provided a unique opportunity for Acordia to redevelop and upgrade its space, creating a more efficient business environment," said Mr. Stevens. "One of the advantages of being an owner/developer with a portfolio of many similar office properties, is that when a creditworthy cred·it·wor·thy adj. Having an acceptable credit rating. cred  it·wor tenant's lease expires in one building, the developer is able to
offer them one or more alternatives in another, added Mr. Karson.
"That's precisely the scenario that played out for Acordia in
its move to 330 Madison." Built in 1963, the 39-story
798,473-square foot 330 Madison is also home to BDO Seidman, Bank of
Bermuda The Bank of Bermuda Limited is a leading financial services company in Bermuda providing fund administration, trust, custody, asset management and banking services to institutions and individuals. , and Dean Witter Reynolds Dean Witter Reynolds was an American stock brokerage catering to the middle class. In 1997, it merged with the Morgan Stanley Group to form Morgan Stanley Dean Witter. The amalgamated firm is now known as Morgan Stanley. among others.
Acordia plans to move into 330 Madison in early 2005. "We are very excited that we were able to arrange a deal in Midtown, close to our client base," said Judith L. Robinson, Managing Director of Acordia's 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 Office. "Vornado, a landlord we know well, agreed to terms and conditions that are economically compelling, plus they will be building out our new space to our precise specifications." |
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