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Paramount Leases 5 Floors to McGraw-Hill Education
Paramount Group Inc. said it has signed McGraw-Hill Global Education Holdings to 136,176 square feet at its 1325 Ave. of the Americas. The deal brings the 34-story office tower’s leased occupancy from 80.9% to 95.4%, and marginally increases total portfolio-leased occupancy to 95.2% from 94.0% as of March 31.
“The successful execution of the McGraw-Hill Education lease is a testament to the appeal of 1325 Avenue of the Americas, and our ability to cater to the highest-quality tenants who desire the unparalleled infrastructure our assets offer, while being ideally located in one of the most dynamic office corridors in Manhattan,” stated Peter Brindley, EVP, leasing at the New York City-based REIT.
McGraw-Hill Education will occupy floors five through nine, as well as a portion of the 12th floor, for an initial lease term of approximately 16.3 years.
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- ◦Lease
