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DLA Piper and Ascot extend office leases at 1251 Avenue of the Americas
DLA Piper added 41,600 square feet on the 29th floor with an 8.5-year term, while Ascot signed a 12-year extension for 44,100 square feet on the 43rd floor.
Commercial Observer reports that two office tenants at Mitsui Fudosan America’s 1251 Avenue of the Americas are expanding or extending their space at the Midtown property.
Law firm DLA Piper expanded by 41,600 square feet across the entire 29th floor, taking its total footprint at the building to 210,000 square feet. The expansion was set with an 8.5-year term, and Commercial Observer said the asking rent for the DLA Piper space was $140 per square foot.
Insurance company Ascot Group signed a 12-year extension for 44,100 square feet on the entire 43rd floor. Commercial Observer added that Ascot had been subleasing the space, and that the asking rent for the deal was $150 per square foot.
Commercial Observer also noted that Newmark’s David Falk and the CBRE teams of John Nugent and Alexander Golod handled Ascot’s leasing, while a separate CBRE team handled DLA Piper’s deal. It cited additional recent transactions at the building, including LGT Capital Partners leasing 41,600 square feet in May and an expansion to 80,200 square feet by Trust Company of the West scheduled for November 2025.