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C&W gets exclusive at Americas Tower.

KG A&A Corp., the owners of Americas Tower, said last week they have found a "match have chosen Cushman & Wakefield to start leasing the 1 million-square-foot office building.

The rose-colored, granite tower at 1177 Avenue of the Americas between 45th and 46th Streets, which was the center of a legal tug-of-war between members of a previous partnership, is nearing completion. An early-1992 opening is slated.

C&W's Peter D. Nelson, executive managing director, and Richard donahue, project managing director, will direct the marketing campaign. Their assignment will begin immediately to keep the building on track for its scheduled opening. Nelson said they have not established a rent level yet but, since the building is in the top end of the line, "we're looking to achieve that."

The 50-story building had its beginnings in 1983 as a Kumagai Gumi venture with New York Land Company, headed by Joe and Ralph Bernstein. Earlier this year, Kumagai Gumi exercised an option to purchase the building, to the tune of $90 million, as part of the an agreement that resulted from arbitration between the former partners.

Nancy Neimeroff, general manager of leasing, with KG A&A, said KG&A is now the sole owners of Americas Tower and the building's woes are behind them. They will be targeting, Neimeroff said, the "full range of corporate users."

KG A&A, a subsidiary of Kumagai Gumi co. Ltd., is involved in a number of building and civil engineering projects worldwide.
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Title Annotation:Cushman & Wakefield
Publication:Real Estate Weekly
Date:Aug 7, 1991
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