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Law Firm Pillsbury Takes 4 Floors at Paramount Group Tower
Paramount Group, Inc., which last week signed a McGraw-Hill unit to five floors at 1325 Ave. of the Americas, has consummated another multi-floor lease at the nearby 31 W. 52nd St. Law firm Pillsbury Winthrop Shaw Pittman LLP will occupy four floors, totaling 88,503 square feet, at the 29-story tower for an initial term of 12 years.
The Pillsbury deal brings 31 W. 52nd to 93.1% leased occupancy, compared to 81.5% at the end of the first quarter. Together with the McGraw-Hill Education deal announced last week, the Pillsbury lease brings the REIT’s total portfolio occupancy to 96.1%.
“Adding a firm of Pillsbury’s prominence speaks to the highly attractive nature of 31 W. 52nd and, more broadly, the desirability of the Sixth Avenue office corridor in Manhattan,” said Peter Brindley, EVP of leasing at Paramount.
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- ◦Lease
