BREAKTHROUGH DEAL

Loews Corp. has renewed and expanded its existing lease at 655 Madison Ave. to 100k SF. As part of the complex transaction, two openings will be erected on two separate floors between the building and neighboring 667 Madison, which the tenant also occupies as part of its HQ. So it's literally a breakthrough deal.
The expanded and re-stacked lease means that Loews will occupy the fourth through 11th floors at 655. The deal adds a net addition of nearly 23k SF. A team of brokers lead by CBRE’s Steve Siege l repped the tenant, while Colliers International’s Andrew Roos,Michael Cohen, and Dolores Minardi repped the owner of 655, which recently underwent a $15M renovation and repositioning. The owner of 667, Hartz Mountain, repped itself in the deal.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Philadelphia Newsletters
Related Stories

Bugatti Lends Brand To 60-Story Miami Condo Tower

Where Capital Meets Opportunity: Navigating The Next Wave Of CRE Financing At Bisnow’s Event On Sept. 30

Discussing Strategic Capital Stack Structuring At Bisnow's Sept. 30 National Finance Event

With Occupancy Brimming, Investors Pile Into Bay Area Apartments

FBI Drops Investigation Into Financially Troubled StoryBuilt

Bally's Lines Up $560M Loan For Bronx Casino: The N.Y. Deal Sheet

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Historic Brooklyn Hotel To Be Turned Into Ritz-Carlton-Branded Condos

Dublin BTR Had A €1B Summer

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Bucks County Mall Closing As Owners Prepare Redevelopment Plans