Global real estate brokerage and consulting firm JLL is nearly doubling its office space at 330 Madison Ave., to 165,000 square feet.
The local office had been occupying space on the second floor along with the entire third and fourth floors of the 39-story glass-and-steel tower.
JLL will now add the entire fifth and most of the sixth floor to its fold.
Peter Riguardi, Chairman and President of the New York Tri-state Region, represented the company while JLL colleagues Frank Doyle, Dave Kleiner and Clark Finney represented the building.
“We have been expanding our market share in all of our business lines and adding talent,” says Riguardi of the company.
The firm, also known as Jones Lang LaSalle, has already absorbed the personnel from its $1.8 billion acquisition of HFF in July 2019 to enhance its capital markets capabilities.
“We continue to live cramped and will embark on rebuilding the space,” he added. TPG Architecture will be redoing all its interiors.
JLL was able to expand in the tower as another tenant, HSBC, rejiggered its occupancy. HSBC presently occupies the fifth and 12th floors, plus a floor known as 12A. The financial firm will renew about 26,000 square feet on 12A and let the other two floors go at the end of its lease.
HSBC was represented by Riguardi, Ken Siegel, Matt Astrachan and Mitchell Konsker of JLL, with Doyle, Kleiner and Finney representing the building. The asking rent was in the $70s per square foot.
Built in 1963 and designed by Ely Jacques Kahn, the building was redeveloped in a $121 million Vornado project in 2012. The 852,000-square-foot structure was modernized by architects MdeAS, with items that included a glass curtain wall and new lobby.
Last year, the Abu Dhabi Investment Authority bought Vornado’s 25 percent stake. In December, Munich Re agreed to acquire the building from ADIA at a price expected to top $850 million.