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International Council of Shopping Centers Relocates Global Headquarters in NYC

Mitsui Fudosan America, Inc., the U.S. operations of Japan's largest real estate company, reported that International Council of Shopping Centers signed a full-floor lease for its global headquarters at 1251 Avenue of the Americas in New York City.

ICSC will take the entire 45th floor, comprising 44,100 square feet. It plans to move into MFA's flagship tower by mid- to late- 2019 for a 16-year term.

"We are delighted to welcome this prestigious organization to 1251 Avenue of the Americas," said Christopher N. Perez, Senior Vice President of MFA. "Sixth Avenue is more vibrant today than any time in its history, and its location in the heart of Midtown provides ICSC with ideal access to its retail and real estate members."

"1251 Avenue of the America's virtually column-free floorplates and superior infrastructure have been distinguishing features for tenants during the final stages of decision making," added Perez.

"Midtown has been ICSC's home for over 20 years, and we look forward to being able to stay in the neighborhood," said Tom McGee, President & CEO of ICSC. "The building is conveniently located and will provide a dynamic environment for our members when they visit."

In addition, MFA said it is seeking best-in-class tenants for Floors 35 through 38, which will be available in 2020, and is the first contiguous block offered in the building since 2010. The cumulative square footage is 173,000 square feet.

John Westerfield, CEO of MFA, said, "A redesign of the lobby and upgrade of the elevator system, as well as the addition of several new restaurants, are scheduled for 2019, and this substantial capital investment is further evidence of Mitsui Fudosan's commitment to maintaining 1251 as one of the finest office buildings in New York City. Our recent success in leasing multiple full floors at 1251 further demonstrates the attractiveness of The Avenue of Americas to premier business organizations like ICSC. Sixth Avenue remains one of the great places to work in midtown Manhattan."

MFA's history in the United States dates back to the early 1970s. Since its inception, MFA has acquired, owned or developed numerous office, multifamily and hospitality properties in major markets throughout the U.S. including: 1251 Avenue of the Americas, 55 Hudson Yards, 160 Madison, 527 Madison, and 525 West 52nd in Manhattan; Waterfront Corporate Center III in Hoboken, NJ; The Homer Building and 1200 17th in Washington D.C.; 270 Brannan, 650 Indiana and 22 Texas in San Francisco; 2nd & Pike in Seattle; and the renowned Halekulani Hotel in Waikiki, Hawaii.

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