NEW YORK–(BUSINESS WIRE)–Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced that SVB Securities, a subsidiary of SVB and a leading healthcare investment bank health and technology, expanded to 1301 Avenue of the Americas signing a 68,183 square foot lease for all 5and stage. This lease brings SVB Securities’ commitment to 1301 Avenue of the Americas to 139,176 square feet. 1301 Avenue of the Americas is a 1.7 million square foot trophy office building, located between 52n/a and 53rd Midtown Manhattan streets.
“We are delighted that SVB Securities has again chosen 1301 Avenue of the Americas to meet its occupancy needs as the company continues to execute on its growth strategy,” said Peter Brindley, executive vice president, head real estate. “This transaction further reduces the availability of the former Barclays block and preserves our ability to offer a branded building in a build opportunity for a tenant who leases the remaining three contiguous base floors totaling 200,000 square feet.
About Paramount Group, Inc.
Based in New York, Paramount Group, Inc. is a fully integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality Class A office properties located in select submarkets of New York City’s Central Business District and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging its desirable asset locations and proven property management capabilities to attract and retain high quality tenants.