Marketplace: Oracle America Inc.
December 7, 2011
By: Monica Paquette

Oracle America Inc., an integrated business software and hardware systems company, has signed a 10-year lease for 62,000 square feet at 120 Park Ave., at East 42nd Street, across the street from Grand Central Terminal...

...Constructed in 1982, the 606,140-square-foot Park Avenue tower has 26 floors in which Oracle has leased half of the 24th floor, and the entire 25th and 26th floors... Public records show that 120 Park Avenue Associates Inc. purchased the property from Altria Group Inc., formerly Philip Morris, for more than $525 million in 2008. Global Holdings Inc. is reportedly the owner of the office tower...

...A communication spokeswoman for The Oracle Corporation, based in Redwood Shores, Calif., declined to comment on any details of the new office...

...The asking rate for class-A office space in the Grand Central area is about $63 per square foot, according to Studley's November report...

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