CME Group, the world’s leading and most diverse derivatives marketplace, today announced the sale of the NYMEX Building located at One North End Avenue to Brookfield Office Properties.
Brookfield will buy the 15-story, half million square-foot office building for $200 million. As part of the sale, CME Group will lease back the lower 222,000 square-feet of space in the building for a 15-year term, including the NYMEX Trading Floor as well as office and trading floor support space.
“CME Group remains committed to our floor based membership and open outcry trading services in New York, which continue to serve our customers well,” said Kevin Lennon, Managing Director Real Estate at CME Group. “We are very pleased to sell the NYMEX building to Brookfield Office Properties, owners of the neighboring Brookfield Place, who will be great landlords for us and the other tenants in the building. With this sale, we will continue to update our New York offices to reflect the innovation and quality of our CME Group offices around the world.”
Principal Holly Duran and Associate Jeff Mulder of Holly Duran Real Estate Partners LLC, CME’s global real estate advisor since 1980, in partnership with James D. Kuhn, Newmark Grubb Knight Frank President and head of the firm’s Capital Markets group, and Capital Markets Senior Managing Director Jennifer Schwartzman assisted in the sale of the building.
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex(R) electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world’s leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.