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Canadians lease 34,000 s/f at Park Ave. tower.

National Bank of Canada and its subsidiary, Putnam Lovell NBF, have renewed and expanded into 34,639 square feet at Park Avenue Tower in Midtown. Park Avenue Tower is owned, managed and leased by Equity Office.

"The timing of Putnam Lovell's renewal at Park Avenue Tower nicely coincided with the end of National Bank of Canada's lease, so it seemed like a good opportunity to take advantage of the office space and infrastructure Putnam Lovell already had in place," said Serge Lacroix, managing director and general manager of The National Bank of Canada.

"Park Avenue Tower has a premier Midtown address and will provide us with access to our peers in the financial services sector, our customers and a variety of office and retail amenities."

The National Bank of Canada's Treasury Department was previously headquartered at 125 W. 55th Street. Together the National Bank of Canada and Putnam Lovell will occupy the 31st, 34th and 35th Floors.

"Because of our size and scope in Midtown, we are able to easily accommodate existing customer's expansion needs and provide them with the flexibility to continue growing," commented Don Huffner, senior vice president of Equity Office's New York Region. "We look forward to retaining Putnam Lovell as a customer and welcome the National Bank of Canada to the building."

Robert Tunis and David Dennis of GVA Williams represented Putnam Lovell in the transaction. "After conducting an extensive search of office space on the market, the Bank's Treasury Department and Putnam Lovell decided that Equity Office was able to offer both companies a variety of space options and the flexibility to grow and expand, as needed," commented Tunis.

Brett Greenberg, managing director-leasing, represented Equity Office in the transaction.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 19, 2005
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