7 Bryant Park/1045 Avenue of the Americas
Air Rights Sq Ft: 67,617
Building Envelope Sq Ft: 471,000
Ground Lease Date: June, 2012
Client: Pacolet-Milliken Enterprises, Inc.
Tenantwise advised Milliken & Company on a long term ground lease with the entity known as Hines 1045 Avenue of the Americas LLC. Milliken & Company began as a textile manufacturing company in Pacolet, South Carolina in the late 1800’s. The property adjoins 104 West 40th Street, a principal acquisition by Mermel & McLain Management in 2004, and later sold. Due to the proximity of the two buildings, Mermel & McLain became acquainted with Mr. Roger Milliken, President, and CEO of Pacolet-Milliken which ultimately resulted in Tenantwise’s advisory work on the ground lease. In addition, in 2010, 67,617 square feet of air rights were acquired by Pacolet-Milliken from 104 West 40th Street.