Sumitomo Corporation of America went on the hunt for newer, more efficient digs near Grand Central Terminal for the relocation of its North American headquarters in New York City, and it has found just that at 300 Madison Avenue. The global trading company recently entered into an agreement to sublease nearly 98,500 square feet from CIBC Delaware Holdings Inc. at the 1.1 million-square-foot tower, owned by Brookfield Office Properties.
Sumitomo relied on commercial real estate services firm Studley to conduct the search for the right space to replace its current 74,000-square-foot home on seven floors at 600 Third Ave. The end result is a bigger headquarters location on the 3rd and 4th floors of the 35-story 300 Madison, which sits just one block from Grand Central. In addition to larger floor plates, 300 Madison, developed in 2003, offers the modern accommodations Sumitomo is seeking; 600 Third was built in 1970.Sumitomo Relocates, Expands to 98 KSF at 300 Madison Ave. in NYC
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