Cerity Partners LLC has expanded its headquarters presence at Global Holdings’ 99 Park Ave., increasing its total footprint in the Midtown office tower to 68,271 square feet. The national wealth management and financial advisory firm is deepening its commitment to the property following a recently completed capital improvement program by Global Holdings.
The latest transaction adds 19,600 square feet on a portion of the building’s eighth floor under a 15-year lease. This new space builds on Cerity Partners’ existing 48,671-square-foot headquarters across the 15th and 16th floors, consolidating a sizable multi-floor presence for the firm within the tower.
The expansion is Cerity Partners’ second at 99 Park Ave. in less than a year, underscoring the firm’s ongoing growth and its decision to scale within the same location rather than relocate. With the new lease in place, the 600,000-square-foot office building is now reported to be 98% leased, indicating limited remaining vacancy in the property.
The growth in Cerity Partners’ headquarters footprint follows Global Holdings’ completion of a $30-million capital improvement program at 99 Park Ave. earlier this year. Ownership has positioned the building with an upgraded workplace environment, and the high occupancy level suggests that the improvements have been well received by tenants.
Commenting on the transaction, Alexander Radmin, director of leasing at Global Holdings Management Group, said that Cerity Partners’ continued expansion at 99 Park Ave. reflects the strength of the firm’s investment in the building and the workplace it has created there. His remarks link the tenant’s decision to grow in place with the owner’s broader repositioning strategy for the tower.
Cerity Partners was represented in the lease by Cushman & Wakefield professionals Nicholas Dysenchuk and Rob Lowe. Global Holdings was represented by Radmin, together with a JLL team of Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter. The parties did not disclose financial terms of the lease beyond the 15-year term and the square footage committed.
