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Japanese trader moves HQ to 450 Lexington.

In one of the largest deals this year involving the U.S. headquarters of a major international firm, Marubeni America Corporation will be relocating its U.S. Headquarters from the Pan Am Building, where it had been for 30 years, to 450 Lexington Avenue.

The Japanese trading company, one of the four largest in the world, has taken 84,461 square feet in a lease negotiated by Jeffrey A. Landers, president of Landers Commercial Real Estate, who was the sole broker in the transaction. Alice C. Early and Jeffrey Spiritos of 450 Lexington Venture, L.P., negotiated on behalf of the ownership.

The 15-year lease encompasses the entire 34th, 35th, and 36th floors of 450 Lexington, the new 40-story tower completed this year by the Gerald D. Hines Interests and Sterling Equities at 45th and Lexington. Marubeni will be the second largest tenant in the building.

For Marubeni, the move is particularly significant, Landers said.
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Title Annotation:Marubeni America Corp. relocating U.S. headquarters to location in New York, New York
Publication:Real Estate Weekly
Date:Oct 14, 1992
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