Private equity firm doubles footprint with move to 505 Fifth

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JLL has completed a 10,876 s/f 10-year lease for Incline Equity Partners for the entire 22nd floor at 505 Fifth Avenue in Manhattan. The tenant is relocating and expanding from 5,500 s/f of space on the partial 21st floor at 100 Park Avenue.

Incline Equity Partners was represented by Alexander Chudnoff, vice chairman, and Kip Orban, vice president, with JLL. Paul Glickman, vice chairman; Diana Biasotti, senior vice president; Kyle Young, vice president, and Kristen Morgan, assistant vice president, with JLL represented property owner Stawski Partners in the transaction.

505 FIFTH AVENUE

Incline Equity Partners is a Pittsburgh-based private equity firm
investing in manufacturing, distribution and business services companies. The
company focuses on ownership
transitions for privately held businesses, buyouts and corporate divestitures
within the U.S. and Canada.

Constructed in 2006, the Kohn Pederson Fox-designed 505 Fifth Avenue
features glass curtain walls with abundant light and expansive views, 13-foot
slab-to-slab ceiling heights, tenant-tailored air systems and a floor configuration
with limited columns to allow for creative open floor plans and design.

“505 Fifth Avenue’s contemporary architecture, superior
infrastructure and unparalleled light and air create a powerful environment for
employee attraction and retention,” Orban said. “This tower offers
best-in-class space options with exceptional access to transportation.”

“Incline Equity Partners joins a roster of leading
corporate tenants in this elegant, centrally located tower overlooking Bryant
Park in the heart of Midtown,” Glickman said. “This transaction continues
significant leasing momentum within the building and highlights the appeal of superior-quality
space.”

The 26-story, mixed-use tower is ideally located in the heart of Midtown,
with numerous restaurants, hotels and amenities including Bryant Park in the
immediate area. 505 Fifth Avenue provides immediate access to mass transit through
nearby Grand Central Terminal, Bryant Park, Times Square and Penn Station.

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