Global law firm Morgan, Lewis & Bockius has signed a massive lease to relocate its New York City offices.<\/p>\n
The law firm, which handles corporate mergers and offers specialized consulting, inked a deal for 205,000 square feet at Mitsui Fudosan America<\/a>\u2019s 1251 Avenue of the Americas, according to a third-quarter Manhattan office report from Colliers<\/a>. A source close to the deal confirmed the lease.<\/p>\n SEE ALSO: Stockbridge Buys Maryland Industrial Property for $57M<\/a><\/p>\n The deal represents a relocation for Morgan, Lewis & Bockius, according to another new office report from Savills<\/a>. The law firm\u2019s website currently lists its New York City office at 101 Park Avenue near Grand Central Terminal.\u00a0<\/p>\n It is unclear when the law firm will relocate. Spokespeople for the firm did not immediately respond to requests for comment.\u00a0<\/p>\n The asking rent and the length of the lease were also not immediately available, but the average asking rent for office space in Midtown Manhattan was $80.71 per square foot during the third quarter, according to Colliers\u2019 most recent data.\u00a0<\/p>\n Newmark<\/a> is the exclusive leasing agent for 1251 Avenue of the Americas. The brokerage declined CO\u2019s request for comment. It is unclear who brokered the deal for the tenant.\u00a0<\/p>\n Formerly known as the Exxon Building, 1251 Avenue of the Americas is a 54-story office between West 49th and West 50th streets. Other tenants in the building include alternative investment firm<\/a> LGT Capital Partners, law firm<\/a> DLA Piper and financial services provider<\/a> Daiwa Capital Partners.\u00a0<\/p>\n