Newmark is pleased to announce that China International Capital Corporation (CICC) has leased 20,724 square feet of office space at 280 Park Avenue in Manhattan for its new United States headquarters. Newmark Vice Chairman Fred Smith and Associate Elizabeth Ughetta represented CICC in its move from 350 Park Avenue.
Founded in 1995 and headquartered in Beijing, CICC is a financial services leader with Chinese roots and a global scope. The firm has been deeply involved in China’s economic reform and development, as well as is China’s leading financial intermediary in the United States. In 2015, CICC was listed on the main board of the Hong Kong Stock Exchange, while in 2017, China Investment Securities became a wholly owned subsidiary of CICC, greatly enhancing CICC’s scale and capital strength.
“With an eye to the future, CICC’s U.S. business is looking to deepen and broaden,” said Mr. Smith, “and 280 Park Avenue is the perfect institutional-quality building for CICC to grow its U.S. operations.”
Located near major transit hub Grand Central Terminal, 280 Park Avenue is a two-tower property built in 1961 in the heart of Midtown Manhattan and the exclusive Park Avenue business corridor. The East Tower contains 29 floors while the West Tower contains 43 floors. Tenants in the recently modernized facility include Viking Global, Blue Mountain Realty, Promontory Financial and Cohen & Steer.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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