Capital One (COF) expanded its office at114 Fifth Avenueby 96,606 square feet, according to a recent market report fromCBRE (CBRE).The expansion tacks on to the bank’s existing 116,926-square-foot space at the 18-story Flatiron District building, which it signed on for in August 2022,as Commercial Observer previously reported.Capital Oneoriginally took about 40,000 square feetat the office tower owned byL&L Holding Company,Columbia Property TrustandAllianz Real Estatein January 2015.Capital One’s plans for the additional space weren’t disclosed. The CBRE report saidCapital One Labs— the bank’s division that works on “experimental” products and technology — signed the lease.The length of the new lease and asking rent were unclear, but asking rent was $110 per square foot when Capital One expanded at the building in 2022, as CO previously reported.It’s also unclear who brokered the deal. L&L, Columbia and Allianz declined to comment, while spokespeople for CBRE, Capital One andCushman & Wakefield (CWK), which represented Capital One in its 2022 deal, did not immediately respond to requests for comment.Other tenants of the 350,000-square-foot office building between West 16th and West 17th streets include marketing consultantAcxiomand coworking spaceHub Seventeen. Sportswear brandLululemonleases ground-floor retail space.
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