Money manager Guggenheim renews lease, expands on Madison Avenue [Yahoo! Finance]
MUENCHENER RE GP UNSP/ADR (MURGY)
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Source: Yahoo! Finance
The latest example is a large, unannounced renewal and expansion by hedge fund and money manager Guggenheim at 330 Madison. The building is owned by Munich Re, the world's largest reinsurance company, and managed by its MEAG asset-management arm. Guggenheim renewed its lease at 330 Madison for 17 years and grew to 360,000 square feet from 240,000 square feet. JHVEPhoto – stock.adobe.com Guggenheim renewed its lease for 17 years and impressively grew to 360,000 square feet from 240,000 square feet. The 850,000 square-foot tower between East 42nd and East 43rd streets is now 100% leased. Asking rents range from the low $90s per square foot in the base to over $100 on higher floors. As we reported last year , mighty Munich Re used its own cash to pay off a half-billion dollar Wells Fargo mortgage loan at 330 Madison. It has since opened a 10,000 square-foot wraparound terrace on the 16th floor that's available to all the office tenants. No one involved in the Guggenheim
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