Newmark Grubb Knight Frank (NGKF) is pleased to announce that it recently represented Bard, Rao + Athanas Consulting Engineers, LLC (BR+A) in renewing its existing lease on the entire tenth floor of 105 Madison Avenue and expanding into a portion of the 9th floor for a total of 16,600 square feet. NGKF also represented the landlord, A&R Real Estate Inc., in this transaction.
Bard, Rao + Athanas Consulting Engineers provides state-of-the-art, integrated and coordinated mechanical, electrical, plumbing and fire protection consulting engineering, low-voltage telecommunications and building commissioning services. The company has leased office space at 105 Madison Avenue for the past ten years. Its decision to renew and expand its lease allows BR+A to accommodate its progressive growth over the past few years.
105 Madison Avenue is situated in the heart of NoMad and surrounded by some of the City’s most popular hotels, restaurants and shops. The building is home to a diverse mixture of upscale tenants. Asking rents in the building are in the low 60’s.
Paul Davidson, senior managing director at NGKF led the deal. Commenting, he said: “105 Madison Avenue represents a perfect location for Bard, Rao + Athanas Consulting Engineers, LLC, and the additional space accommodates their recent and impressive growth.” He added: “We were delighted to represent both tenant and landlord in this renewal and expansion agreement and meet the needs of both sides.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.