Sister Companies Aerotek, Inc. and TEKsystems, Inc., Headed by Super Bowl Winning Baltimore Ravens Owner Steve Bisciotti, Expand Footprint on Multiple Floors
NEW YORK, May 14, 2013 /PRNewswire/ — RFR Realty LLC today announced that sister companies Aerotek, Inc. and TEKsystems, Inc. have leased over 28,000 square feet of office space at 757 Third Avenue, relocating within and committing to the building as their long-term, New York headquarters. Aerotek agreed to lease 13,551 square feet on the 8th Floor, and TEKsystems will take 15,115 square feet on the 12th Floor. Each company agreed to occupy this prime Midtown East property for a term of 10 years, and the aggregate value of the two leases is over $16 million. With these new deals, 757 Third Avenue has seen over 130,000 square feet of recent leasing activity.
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"The RFR team always works hard to provide the best services and amenities that attract and retain the best quality tenants," said Aby Rosen, Co-Founder and Principal of RFR Holding LLC. "That's the secret of our success here and throughout the RFR portfolio. In our level of service and our fine touch with respect to amenities, modernization, and upkeep, we offer a standout product. The businesses that choose to locate with RFR have a different and better experience than they might have elsewhere. The decision by Aerotek and TEKsystems to relocate within and commit to 757 Third Avenue is a great example of our success."
Aerotek and TEKsystems, headed by Steve Bisciotti, owner of the Super Bowl winning Baltimore Ravens, initially moved into the 2nd floor of 757 Third Avenue in 1997, before RFR acquired the property in 1999. Since then, the RFR team has refined and modernized the lobby, upgraded building systems, incorporated modern art in common spaces, and focused intensely upon customer service to enhance the appeal of 757 Third Avenue. These concerted efforts to distinguish the property have been paying off. In addition to Aerotek and TEKsystems, both of which specialize in personnel and contract staffing services, several Japanese businesses have recently clustered at 757 Third Avenue, including NTT America Inc., NTT Docomo USA Inc., Mizuho Alternative Investments LLC, The Mainichi Newspapers, and Pasona NA Inc.
Asking rents at 757 Third Avenue range from the low $50s per square foot for the pedestal floors of the property to the low $60s per square foot in the tower portion. 757 Third Avenue currently offers two separate 90,000-square-foot blocks of contiguous space. Only one other property on Third Avenue is currently offering such a substantial footprint for a major tenant.
A team of brokers from Cassidy Turley's New York and Baltimore offices, including L. Jamie Smith, Michael Norris and Jonathan Schindler, represented Aerotek and TEKsystems in the transactions. Representatives of RFR Realty were Steve Morrows, Executive Vice President and Director of Leasing for RFR Realty, and a team from Jones Lang LaSalle led by Mitchell Konsker and Alexander Chudnoff.
About RFR
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR's portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
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