ATCO Properties & Management announced today that three of its current office tenants – SimpleBet, Electra Information Systems and All Nippon Airways – signed lease renewals in Midtown totaling 17,477 square feet.
“Renewals from strong tenants like SimpleBet, Electra Information System and All Nippon Airways are a testament to the quality of our assets, as well as our hands on management approach and steadfast commitment to our tenants,” said Kate Hemmerdinger Goodman, co-president of ATCO Properties & Management. “We are thrilled that among all the available options, each tenant sees the value in continuing to call an ATCO Properties’ building home.”
In the largest transaction, global sports betting technology innovator, Simplebet renewed its full ninth floor lease for 8,732 square feet at 373 Park Avenue South. The boutique 12-story, 110,000-square-foot building is located on the southeast corner between East 26th and 27th Streets.
Co-founded in 2018 by Chris Bevilacqua, Joey Levy, and Scott Marshall, Simplebet pioneered micro-betting products for the NFL, NBA, and MLB and works with industry leaders including FanDuel and INTRALOT. The company enables sportsbook operators, media and technology companies to offer new betting markets, making every moment of every game a sports betting opportunity, enhancing fan engagement and the overall sports betting marketplace.
Jamie Katcher and Henry Korzec of Raise Commercial Real Estate represented Simplebet in the transaction, while building ownership was represented by Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers International NY LLC. Asking rent was $62 per square foot.
Directly adjacent at 381 Park Avenue South, Electra Information Systems recommitted to a 4,494-square-foot space on the 14th floor for an additional five years. Boasting 17 floors and totaling 228,000 square feet, the property sits just steps from Madison Square Park and offers sunny exposures and flexible floorplates.
London-based Electra Information Systems helps financial institutions, corporate treasuries, and capital markets firms around the world overcome common data, reconciliation, connectivity, and reporting challenges.
Hemmerdinger Goodman represented building ownership in-house. No tenant brokers were involved in the transaction. Asking rent was $66 per square foot.
At 630 Third Avenue, Japan’s largest airline, All Nippon Airways, is relocating to 4,251 square feet on the building’s fifth floor for a seven-year term. Conveniently located between East 40th and 41st Streets, the 23-story Midtown building recently underwent a capital improvement and amenities redesign, adding a new retail façade, new elevator cabs, sun-filled terraces on two floors, upgraded mechanical systems, and state-of-the-art security cameras and 24-hour security staff.
All Nippon Airways flies over 3.7 million passengers monthly, serving more than 40 destinations in Japan and offering flights to destinations in Asia, Europe and North America from its hubs in Osaka and Tokyo.
Brittany Silver and Jonathan Franzel of Newmark Knight Frank represented building ownership in the transaction. Dan Santagata and TJ Hochanadel of JLL handled the transaction for All Nippon Airways. Asking rent was $65 per square foot.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on creating value through placemaking and other strategies in urban locations. ATCO seeks to improve people’s lives by creating places where they genuinely want to work, play, or live, and by doing our work with a long-term perspective.
Through eight decades and four generations, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City and also in select markets we target. ATCO presently owns and manages more than 25 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to a mixed-use former military base. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South, 515 Madison Avenue and 240 West 35th. Nationally, the company owns properties in Austin, Texas; Darien and Westport, Connecticut. Internationally, ATCO has investments in seven European countries.
