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Columbia Property Trust Signs Full Floor Lease With Cadre at 315 Park Avenue South

·4 min read

Leading Fintech Company to Relocate Headquarters to 17,000 SF at Columbia’s Best-in-Class Midtown South Tower

NEW YORK, May 03, 2022--(BUSINESS WIRE)--Columbia Property Trust, Inc. announced today that it has secured a full-floor lease with Cadre at 315 Park Avenue South, its 20-story boutique office building just off Madison Square Park in Manhattan’s Midtown South neighborhood.

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Columbia Property Trust has secured a full-floor, 10-year lease with Cadre at 315 Park Avenue South in Midtown South Manhattan. (Photo by Eric Laignel)

Cadre is a groundbreaking technology-driven real estate investment platform geared toward both institutional and individual investors. Under the new 10-year lease, Cadre will establish its headquarters across 315 Park Avenue South’s 17,050 square-foot seventh floor in fall 2022. The firm is relocating from the Puck Building at 295 Lafayette Street.

After acquiring 315 Park Avenue South in 2015, Columbia completely transformed the 331,000-square-foot tower into a best-in-class office destination in one of Manhattan’s most popular office districts, and it has continued to attract prominent firms seeking the energy of Midtown South and a premium Class A office experience. With the Cadre signing, the building is 97 percent leased to an impressive roster of prominent tech and financial tenants, including financial data platform PitchBook, cryptocurrency exchange Gemini Trust, and Amazon’s interactive streaming service, Twitch.

"We are pleased to welcome Cadre – yet another cutting-edge technology company choosing 315 Park Avenue South as its home," said Columbia Property Trust Executive Vice President, Dave Cheikin. "We have continued to experience strong demand from prominent financial, tech and creative brands that understand the importance of providing their teams with a premium workplace environment in the heart of a vibrant neighborhood."

"Our mission at Cadre is to make commercial real estate more accessible to more individuals, and coming off our strongest quarter to date, Cadre requires a flagship office that can accommodate the pace and expansion of our business as we begin a new chapter of growth. The location, space, and amenities at 315PAS are a great fit for our growth and culture," said Cadre Founder and CEO Ryan Williams. "As evidenced by our most recent property sales, we are convinced that strong partners are critical to every successful investment. Columbia Property Trust has proven to be an excellent partner during this exciting phase for our business and, from their state-of-the-art location, we look forward to improving financial futures for even more individuals."

Columbia’s initial renovation of the century-old building celebrated its classic exterior architecture while fully modernizing the building systems, and Columbia has continued to invest in technology and operating enhancements that emphasize occupant health, wellness, and safety. As a result of these efforts, 315 Park Avenue South has earned ENERGY STAR, Fitwel®, LEED Gold, and WiredScore Platinum certifications, and Columbia’s headquarters office, which opened in the building in 2020, subsequently achieved LEED Gold Interior Design and Construction and ENERGY STAR Tenant Space Certification in 2021.

Tenants at 315 Park Avenue South enjoy exclusive access to Columbia Gateway, a mobile app built on the leading HqO mobile technology platform designed to help them get more out of their workspace. Onsite amenities at the building include an Equinox Gym and Amazon Go convenience store, and it also provides exceptional transit access and walkability to Madison Square Park, Gramercy Park, and a wealth of upscale food options, hotels, and shopping.

Steven Rotter and Justin Haber of JLL represented Cadre.

Current availabilities are now marketed by David Falk, Peter Shimkin, Jonathan Fanuzzi and Alex Leopold of Newmark. For additional information, please visit 315pas.com/.

About Columbia Property Trust

Columbia Property Trust creates storied properties for legendary companies in New York, San Francisco, Washington D.C., and Boston. The Columbia team is deeply experienced in transactions, asset management and repositioning, leasing, development, and property management. It employs these competencies to grow value across its high-quality, well-leased portfolio of 12 properties that contain more than five million rentable square feet, as well as four properties under development, and also has over 8.5 million square feet under management for private investors and third parties. Columbia was named a 2021 ENERGY STAR "Partner of the Year" by the E.P.A. and a "Green Lease Leader" by the U.S. Department of Energy, as well as one of Fortune’s "Best Workplaces in New York 2021" among Small and Medium-sized employers and "Best Places to Work in NYC" (2020, 2021) by Crain’s New York. For more information, please visit www.columbia.reit.

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