Well, some good news for 1095 A of A: The MetLife deal is done. They’ll take 12 floors and 410,000 square feet from landlord Equity Office Properties in the fourth quarter of 2008.
The release says that MetLife will keep a “substantial ongoing presence” in super-spurned Long Island City. Whatever. It’s all further evidence that no one wants to take the E or V train.
But don’t tell that to the Elghanayans.
Release after the jump.
– John Koblin
MetLife, Inc. (NYSE: MET) and Equity Office (NYSE: EOP) announced today that MetLife has signed a 21-year lease at 1095 Avenue of the Americas in Midtown Manhattan. MetLife will occupy 12 floors in the building or approximately 410,000 square feet.
Michael Berman, vice president-leasing for Equity Office’s NY market along with a team of senior brokerage professionals from CB Richard Ellis, including Robert Alexander, Robert Stillman and Zachary Freeman represented Equity Office in the transaction. Peter Rigardi, president of the Jones Lang LaSalle’s New York Tri-State Region, and Lloyd Desatnick, senior vice president of Jones Lang LaSalle’s New York Tri-State Region, represented MetLife in the transaction. Partner David Brooks and Associate Noah Shapiro of Paul, Hastings, Janofsky & Walker LLP were the attorneys for the transaction.
The company expects to begin moving certain operations, including a portion of its employees currently based in MetLife’s Long Island City (LIC), Queens office, into the building, which is owned and is being redeveloped by Equity Office, in the fourth quarter of 2008. MetLife intends to maintain a substantial ongoing presence in Queens. The LIC office, which will remain a key location for MetLife, will become primarily an IT Center of Excellence for the company.