Shiseido Americas Corporation Expands U.S. Headquarters at Paramount Group's 900 Third Avenue
Leading international Cosmetics Firm Leases Third Full Floor; Expands to 51,852 Square Feet at 900 Third Avenue
New York, NY (July 18, 2011)
Paramount Group, Inc., New York’s largest international real estate investment and management firm, has just executed an expansion lease with long-term tenant Shiseido Americas Corporation at its 900 Third Avenue office tower. The global cosmetics firm, which previously leased two full floors at the 36-story Class A property, has leased an additional full floor and now occupies just under ten percent of the 593,000-square-foot building.
“We have long enjoyed having one of the most prestigious names in the international cosmetics industry make 900 Third Avenue its U.S. headquarters, and we are delighted that Shiseido Americas has expressed its satisfaction with Paramount Group by taking an additional full floor in one of the most dynamic locations in midtown Manhattan,” said Albert Behler, President & CEO of Paramount Group. “We thank Shiseido Americas for its loyalty and look forward to continuing to provide the firm with premium space, fantastic accessibility, glorious views and a committed, hands on management staff for many years to come.”
“Shiseido Americas Corporation has enjoyed its two-decade relationship with Paramount at 900 Third Avenue and was pleased to be able to continue to grow its business at this prestigious corporate address,” stated Studley Executive Managing Director John A. Mambrino, who represented the tenant in the long-term leasing transaction. Paramount Group was represented in-house by Vice President of Leasing Peter Brindley.
Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available at www.studley.com.
About Paramount Group, Inc.
With 13 million square feet of Class “A” commercial office buildings in Midtown & Downtown New York, Washington D.C. & San Francisco, over 40 years of proven expertise across a variety of real estate disciplines, markets and phases of the market cycle, along with its affiliation to a multi-billion-dollar conglomerate of international companies, Paramount is a trusted, respected and internationally recognized partner. The company employs a hands-on, high energy management philosophy, implemented by a goal-oriented and highly experienced Executive team which provides the Trophy buildings and Seven Funds with a competitive advantage in sourcing transactions and executing its investment strategy. As a founding member of The Greenprint Foundation and proactive in global environmental endeavors committed to reducing the carbon footprint of the built environment, the firm is well known for its eco-friendly practices and is USBC-recognized for landlord leadership in sustainability. For additional information, please visit www.paramount-group.com.