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Privately held Continental Grain Company (Continental Grain) is moving ahead with plans to relocate its New York City headquarters to the General Motors Building, where it has signed a new, 38,100-square-foot lease. Established in 1813, Continental Grain is one of the oldest food and agribusiness companies in the world. The company will occupy the entire15th floor of the iconic white marble building on Fifth Avenue, at the southeast corner of Central Park. Occupancy is expected in the last quarter of 2014.
Continental Grain will sublease the space short-term from General Motors and has extended the agreement long-term with owner Boston Properties, Inc.
“These new offices will give Continental Grain the ability to create a new workplace environment, while maintaining the rich corporate history and tradition established over two centuries of operations. The sublease, followed by a direct lease, provided Continental Grain the perfect opportunity to accomplish this objective,” said Newmark Grubb Knight Frank (NGKF) Executive Vice President Moshe M. Sukenik, who, along with Eric Zemachson of NGKF, represented Continental Grain in the transaction.
Mr. Sukenik and Mr. Zemachson worked with Andrew Levin, in-house at Boston Properties. Peter Riguardi, Lloyd Desatnick and Michael Shenot of Jones Lang LaSalle represented the sublessor.
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.