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CIT leases 180,830 sf.

The CIT Group, a multi-billion dollar asset-based lending company, has signed a long-term lease for 180,830 square feet at 1211 Avenue of the Americas, thereby expanding and consolidating its New York operations.

The CIT Group was previously located at 270 Park Avenue, 135 West 50th Street, 810 Seventh Avenue, and in sublease space at 1211 Avenue of the Americas.

Michael R. Laginestra and Scott L. Gottlieb of Cushman & Wakefield, Inc., represented CIT in negotiations with the owner of 1211, JMB Realty Corporation. Joseph T. Wright, senior vice president of JMB, represented the landlord.

Just recently, News America Corp. signed a lease for 230,000 square feet at 1211 Avenue of the Americas.

"We are excited about the momentum created not only for us, but for the industry as a whole, by the conclusion of a 230,000 square-foot leasing transaction - the largest in New York City this year - followed by one for 180,830 square feet in the same month, in the same building," says JMB Properties Company Senior Vice President Joseph T. Wright.
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Title Annotation:CIT Group signs lease for 1211 Avenue of the Americas, New York, New York
Publication:Real Estate Weekly
Date:Jul 1, 1992
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