Newswire Mann Report

Blue Owl Capital Takes 137,660 SF at Seagram Building

375 Park Avenue (Courtesy of RFR Realty)

Blue Owl Capital, a global alternative asset manager with more than $119 billion in assets under management, has leased 137,660 square feet of office space at RFR’s Seagram Building located at 375 Park Ave. The transaction pushes Seagram’s leasing tally over 375,000 square feet for 2022 year-to-date, with the building now approaching full occupancy.

“I am committed to ensure the Seagram Building remains the best and most celebrated office building in the world — delivering new oxygen to the workplace by redefining the line between work and amenity,” said Aby Rosen, co-founder and principal of RFR.

Investment and asset management firms make up the bulk of the 375,000 square feet of leasing in 2022, the majority of which closed within the past 90 days. Highlights include:

Teachers Insurance and Annuity Association of America (TIAA) leasing 52,124 square feet to be used for Churchill Asset Management, a capital provider for private equity-owned, middle market companies; Windrose Health Investors, a healthcare private equity firm, leasing 16,956 square feet; Clayton, Dubilier & Rice, a private equity firm, increasing its footprint to 69,385 square feet in a renewal/expansion deal; EnTrust Capital, an asset management and advisory firm, renewing 25,827 square feet and Sound Point Capital Management, a $30 billion asset management firm with a particular expertise in credit strategies, completing a renewal and expansion deal for 31,000 square feet.

Driving Seagram’s strong leasing performance is Seagram Playground, a first-of-its-kind amenity in the New York City office market created through a $25 million investment by RFR, the company said. The 34,000-square-foot, multi-level complex offers fitness, wellness and social collaboration elements for exclusive use by building tenants.

Blue Owl Capital was represented by Mark Weiss of Cushman & Wakefield. Churchill/TIAA was represented by Scott Vinett of JLL and Chris Joyner of Fischer. Landlord agents for the Blue Owl and Churchill/TIAA deals were Peter Riguardi, Paul Glickman, Cynthia Wasserberger and Ben Bass of JLL and AJ Camhi and Paul Milunec of RFR Realty.  WindRose Health Investors was represented by Mary Ann Tighe and Alex D’Amario of CBRE.  Landlord agents for the WindRose transaction were Camhi and Milunec.