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As MetLife prepares to vacate nearly 400k SF in 3 Bryant Park as part of a consolidation to its namesake HQ on top of Grand Central, Cushman & Wakefield brokers are hard at work finding firms to backfill its space.
This morning, the team led by Bruce Mosler finalized a sublease with US Bank to take 68k SF in the soon-to-be-named Salesforce Tower, taking up a significant chunk of MetLife's lease, which runs until 2029. Terms of the deal were undisclosed. Working with Bruce repping MetLife was John Cefaly, Ethan Silverstein, and Peyton Horn. C&W's Michael Burlant, Dale Schlather, Jon Herman and Greg Herman repped US Bank.
The 1.2M SF tower, owned by a JV of Ivanhoé Cambridge, Callahan and the Hong Kong Monetary Authority's Exchange Fund, has been in the news quite a bit this year, after Salesforce inked a 200k SF lease that includes naming rights and after the HKMA Exchange Fund bought a 49% stake in the tower for north of $1.1B.
With Salesforce and now US Bank taking most of MetLife's space—which will be changing hands next year—the 16th, 39th and 40th floors are still available for sublease, C&W reports.
US Bank is moving to 1095 Avenue of the Americas from its current New York HQ, which has approximately the same square footage, at 461 Fifth Ave, SL Green's 200k SF building one long block away.
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