The Real Estate

Principal Financial Pens $100-a-Foot-Plus Lease on Seventh Ave

by Eliot Brown  |  January 18, 2008
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Principal Financial Group has signed a lease to take a 19,000-square-foot space in Vornado Realty Trust’s 888 Seventh Avenue, according to CB Richard Ellis broker Paul Amrich, who handled the deal for Principal.

Principal, a Fortune 500 financial services firm, will take the entire 25th floor, moving from a space of about 10,000 feet on the 11th floor of the building.

The rent is over $100 a foot, according to Mr. Amrich, who is also marketing Westbrook Partners’ 444 Madison Avenue, the former home to both New York magazine and Newsweek.

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