Lazard Renews Lease at 30 Rockefeller Plaza
11 Mar, 2011, New York
Cushman & Wakefield today announced that financial advisory and asset management firm Lazard (NYSE: LAZ) has reached an agreement with Tishman Speyer to renew its office lease at 30 Rockefeller Plaza, effective June 2012.
Lazard is a major office tenant within Rockefeller Center, currently occupying 370,000 square feet and most of the top floors of 30 Rockefeller Plaza. The new, 21-year lease includes an additional 60,000 square feet of available workspace.
"We are pleased to stay at 30 Rockefeller Plaza, one of the most prestigious buildings and locations in New York City," said Kenneth M. Jacobs, Chairman and CEO of Lazard. "This agreement provides a long-term solution that offers efficiency and maximum flexibility from an operational standpoint, as well as the ability to enhance the space for our employees and clients."
"Lazard ultimately determined that 30 Rockefeller Plaza provided both a prime location and a distinctive building within a world-class complex, with exceptional ownership and value in today's market," said Tara Stacom, Vice Chairman of Cushman & Wakefield.
"Lazard conducted an extensive site selection process in the Manhattan market," said John Cushman, Chairman of Cushman & Wakefield. "However, 30 Rockefeller Plaza provides the space required by Lazard. Tishman Speyer was a good partner with Lazard in addressing its floor space and design needs."
"Rockefeller Center has been Lazard's New York home for nearly 40 years, and we are delighted that Lazard has chosen to stay with us," said Thomas Madden, Managing Director, Tishman Speyer. "We have always felt fortunate to include Lazard, one of the world's most successful and well-respected financial firms, among our dynamic roster of tenants."
Lazard was advised by a Cushman & Wakefield team led by Cushman & Wakefield Chairman John Cushman, Vice Chairman Tara Stacom and Cynthia Foster, Executive Managing Director of Global Client Development, along with members of their Project Management and Investment Banking Group. Lazard has retained Swanke Hayden Connell Architects to redesign the workspace.