NEW YORK CITY—London-based academic publisher and business intelligence firm Informa PLC is consolidating most of its operations here to nearly 60,000 square feet of space at the 605 Third Ave. office tower in Midtown.
The firm, which is also engaged in the exhibitions and events business, signed a 10-year 59,613-square-foot lease covering three full floors at the 1.1 million Class A office tower owned by Fisher Brothers.
Informa spent $1.6 billion last November to acquire New York City-based exhibitions and professional services firm Penton Information Services from MidOcean Partners and Wasserstein & Co. The company will occupy floors 20 through 22 at 605 Third Ave. and is expected to relocate from multiple locations to the property in the first quarter of 2018.
“Informa’s presence in the US has steadily expanded over the last five years. Having acquired Penton in late 2016, we have taken the opportunity to bring five of our New York locations together into a single base,” states Geoff Scott, property strategy manager for Informa. “605 Third Avenue represents a modern, high quality and flexible space, and we are looking forward to creating a new hub for Informa in Midtown that our colleagues can be proud of.”
Chris Corrinet, Peter Gamber, Robert Hill, and Michael Movshovich of CBRE represented Informa in the transaction. Fisher Brothers was represented in-house by Marc Packman and Clark Briffel, as well as by Cushman & Wakefield’s Bruce Mosler, Louis D’Avanzo, Andrew Ross, Michael Baraldi and Maria Travlos.
Fisher Brothers recently completed a $25-million capital improvement program at 605 Third Ave. that included a brand new building entrance and lobby designed by architect David Rockwell and the Rockwell Group.
“605 Third provided Informa a unique value proposition marrying prominent identity, efficient floor plates with great light and views, a high quality renovation and excellent long-term partners in Fisher Brothers,” says CBRE’s Movshovich. “Informa’s colleagues are very excited to come together within one space after many years working in multiple locations.”
Informa joins a tenant roster at 605 Third Ave. that includes: Univision, AECOM, Davidoff Hutcher & Citron LLP, Jones Day, Katsy Korins LLP, and the United Nations Population Fund. Built by Fisher Brothers in 1963, the property was recently certified LEED Gold by the U.S. Green Building Council in recognition of a number of enhancements undertaken by Fisher Brothers.
Informa will relocate its current offices at 420 Lexington Ave. 708 Third Ave. and 52 Vanderbilt Ave., as well as Penton’s office at 1166 Avenue of the Americas, to 605 Third Ave., according to the Commercial Observer. The firm will continue to occupy space at 711 Third Ave.
The company employs more than 7,500 employees worldwide and has a presence in North America, South America, Asia, Europe, the Middle East and Africa.