TAMI Tenant Knowledgent Group Inks Long-Term Lease, While Supply Company Sepp Leaf Products Renews for Another Three Years
ATCO Properties & Management announced today that two tenants have signed long-term leases totaling 9,364 square feet at 381 Park Avenue South, a boutique class A property situated in the thriving Midtown South office district.
In the first transaction, data and analytics firm Knowledgent Group, Inc. has signed a seven-year, 4,747-square-foot lease comprising a portion of the 10th floor at the 16-story, 220,000-square-foot property, which is located at the southeast corner of East 27th Street. The firm expects to relocate from 1177 Avenue of the Americas to the building by end of summer 2016.
Also signing is Sepp Leaf Products, which has renewed its 4,617 square-foot lease on the 13th floor for another three years. With the new lease, the company will remain at 381 Park Avenue South until the year 2019.
The new transactions for Knowledgent and Sepp Leaf Products Inc. are the latest in a series of new arrivals and lease renewals at the property. Over the last six months, ATCO Properties & Management has completed several transactions at 381 Park Avenue South, bringing the building to 98% occupancy. Among the property’s most notable new leases and renewals include creative company Superfly Productions LLC, real estate investment services firm Besen & Associates, art restoration company Terrence Mahon and healthcare company Manhattan Total Health & Physical Medicine.
“381 Park Avenue South has been extremely well received in the marketplace,” said Kate Goodman, co-president at ATCO Properties & Management, who added that the property benefits from easy access to the 28th Street “6” train subway station and Madison Square Park.
Other major tenants at 381 Park Avenue South include Stephen B. Jacobs Group, Goldstein, Rikon, Rikon & Houghton, P.C., Williams Lea, Travel Planners and famed bakery and restaurant Sarabeth’s Kitchen. A leader in technology, 381 Park Avenue South is Wired Certified Gold for its diverse internet connectivity, making it one of the highest achievements that a commercial property can receive from WiredScore.
Knowledgent Group, Inc. was represented by Chris Kraus of Jones Lang LaSalle in the long-term transaction, while Jarad Winter of ATCO Brokerage Services represented ownership in-house.Sepp Leaf Products, Inc. was represented by Peter Goldich of ATCO Brokerage Services. Asking rents were $68 per square foot in both transactions.
For more information on ATCO, please contact www.atco555.com.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on value-add opportunities.ATCO is currently deploying capital through a joint venture program with family offices and other private capital, focused on urban office and retail properties.Target markets include the Central Business Districts of Austin, Nashville, Charlotte, and Raleigh-Durham-Chapel Hill, and the metro New York area.
For over eight decades, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City, and provided a range of services to other real estate owners. The company is in its fourth generation of family ownership, and ATCO presently owns and manages more than 20 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to high tech flex buildings. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South, 515 Madison Avenue and the Atlas Terminals. Nationally, the company owns properties in Austin, Texas; Chapel Hill, North Carolina; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut; Baltimore, Maryland; and Orlando, Florida. Internationally, ATCO has investments in seven European countries.
