Luxury Glass Manufacturer Verescence and Japanese Company Itochu Join the Tenant Roster at the 252,000 Square-Foot Midtown East Building
ATCO Properties & Management announced today that it has completed two leasing transactions totaling 7,372 square feet at 630 Third Avenue, a 23-story 252,000 square-foot office building in Midtown East.
Verescence, a luxury glass manufacturing company that produces glass packaging for the perfumery and cosmetics industries, has signed a 4,244 square-foot lease encompassing a portion of the building’s 16th floor. Verescence expects to move from its current 900 Third Avenue location to the building in mid-December 2021. Its new space will house its sales, executive and administrative teams.
ATCO has also finalized a five-year, 3,128 square-foot deal with Itochu Techno Solutions America, Inc. and Itochu Logistics (USA) Corp on a portion of the 6th floor. The firms collectively signed one lease together. The companies are currently located at 708 Third Avenue and are expected to take occupancy at 630 Third Avenue in early February 2022.
With the new transactions, ATCO has successfully completed more than 33,000 square feet of office leases at 630 Third Avenue this year. Other notable transactions at the property include a 21,150 square-foot lease renewal for insurance defense law firm Rubin, Fiorella, Friedman & Mercante, LLP, as well as a seven-year, 4,762 square-foot lease with the Permanent Mission of Saint Lucia to the United Nations.
In addition to the new office leases, 630 Third’s retail spaces also reached 100% occupancy after SPEAR Physical Therapy finalized a new lease on the ground floor of the property earlier this year, joining fast-causal restaurants Dig Inn and P.F. Chang’s To Go.
“We are excited to welcome Verescence and Itochu to our building at 630 Third Avenue,” said Kate Hemmerdinger Goodman, co-president at ATCO Properties & Management. “Given the quality of the building and the convenience of being in close proximity to Grand Central Terminal, 630 Third Avenue remains an ideal location for a diverse range of businesses.”
Brittany Silver and Jonathan Franzel of Newmark Knight Frank represented building ownership in both transactions. Allison Buck and Kirill Azovtsev of Savills represented Verescence, while Junji Miyake, of Cushman Wakefield represented Itochu. Asking rent was $58 per square foot.
The new transactions also coincide with a major capital improvement program at the property. ATCO is working with architectural firm Design Republic and contracting firm Essential Design + Build to refurbish the building’s lobby.
The property also boasts a newly-constructed, 5,800 square-foot pre-built office suite on the 22nd floor, which is currently available for lease. Designed and constructed by Essential Design + Build, the space features a state-of-the-art floorplan, a new pantry area, and new restrooms.
A LEED-EBOM Silver certified office property, 630 Third Avenue features a new façade, upgraded mechanical systems and a 24-hour security staff. Major tenants at the property include Kraft Kennedy, the Consulate General of Uzbekistan, and Leader Berkon Colao & Silverstein.
For more information on ATCO, please contact 212-687-5154 or visit www.630thirdavenue.com and/or https://www.atco.us/
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 in urban locations. We seek to improve people’s lives by creating places that they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. 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 and Charlotte, North Carolina; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut; Baltimore, Maryland; and Orlando, Florida. Internationally, ATCO has investments in seven European countries.
