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Franklin Templeton Signs a 15-Year Lease at One Madison Avenue

Commercial Observer reported the investment firm will occupy almost 350,000 square feet in the KPF-renovated office tower in Manhattan’s Flatiron District.

Spanning floors 11 through 22, Franklin Templeton Investment has found a new home at One Madison. The signing of the 15-year lease by the firm means the office building, scheduled for completion in 2023, is now 55% leased. Earlier this year, IBM signed a 16-year lease in the building, occupying two full floors and parts of six additional floors, in addition to a company-dedicated lobby entrance. Chelsea Piers Fitness will occupy 56,000 square feet.

In announcing the agreement, Marc Holiday, CEO of the building’s developer, SL Green, shared, “This lease and the earlier IBM transaction are the second- and third-largest new leases signed in Manhattan in 2022 and are validation as to the exceptional quality of the building design.”

The transformation of One Madison updates a mid-century podium and includes the addition of an elegant tower that provides over an acre of outdoor space and multiple terraces. A glass, curtainwall façade, optimized floor-to-floor heights, and virtually column-free floorplates within the tower establishes a dialogue with the neighboring landmarked clock tower.

Read the full article from Commercial Observer here.