Capital One Nearly Doubles Office Footprint at 114 Fifth Ave.
L&L Holding Company has finalized an agreement with Capital One Bank to grow its offices at 114 Fifth Ave. to 116,926 square feet and extend its lease. As part of the 12-year lease extension, Capital One will expand by approximately 60,000 square feet across three full floors.
Ownership was represented in the transaction by L&L director of leasing David C. Berkey. Capital One was represented by Cushman & Wakefield executive vice chairman Dale Schlather and senior director Greg Herman.
“Capital One was one of the first companies to sign on at 114 Fifth Ave. at the conclusion of an extensive redevelopment program intended to foster an ideal environment for innovation and creativity,” said Berkey. “We are thrilled to accommodate their continued expansion.”
Owned by a joint venture of Columbia Property Trust, Allianz Real Estate and L&L, which leads leasing efforts, 114 Fifth is fully occupied by a diverse tenant roster
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).