Cushman & Wakefield will market the property on behalf of Coca-Cola
NEW YORK--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced today that the firm has been
retained on an exclusive basis to market 711 Fifth Ave., commonly known
as the Coca-Cola Building, on behalf of the owner, The Coca-Cola
Company. The property will be brought to market in early 2019.
Coca-Cola acquired 711 Fifth Ave. in 1983 as part of the company’s
acquisition of Columbia Pictures. Coca-Cola has determined that it does
not need to retain its investment in the building to support its
activities in New York, according to the company. Coca-Cola and its
bottling partner in the area, Liberty Coca-Cola Beverages, will continue
to have a sizable presence in the greater New York metropolitan area.
The Cushman & Wakefield Institutional Capital Markets team of Doug
Harmon, Adam Spies and Kevin Donner will lead the marketing efforts.
“711 Fifth Ave. is one of Manhattan’s best kept secrets, a premier
boutique gem with a rich history that dates back to 1927,” said Doug
Harmon, Chairman, Capital Markets, Cushman & Wakefield. “We look forward
to working with The Coca-Cola Company as we seek a new owner for this
world class offering.”
The 19-floor, mixed-use property is located on the southeast corner of
Fifth Ave. and East 55th Street. The building consists of
354,000 square feet and is primarily used for office and retail space.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value for real estate occupiers and
owners. Cushman & Wakefield is among the largest real estate services
firms with 48,000 employees in approximately 400 offices and 70
countries. In 2017, the firm had revenue of $6.9 billion across core
services of property, facilities and project management, leasing,
capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake
on Twitter.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company, offering
over 500 brands in more than 200 countries and territories. In addition
to the company’s Coca-Cola brands, our portfolio includes some of the
world’s most valuable beverage brands, such as AdeS soy-based beverages,
Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta,
Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent
smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply
juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We’re
constantly transforming our portfolio, from reducing sugar in our drinks
to bringing innovative new products to market. We’re also working to
reduce our environmental impact by replenishing water and promoting
recycling. With our bottling partners, we employ more than 700,000
people, helping bring economic opportunity to local communities
worldwide. Learn more at Coca-Cola Journey at www.coca-colacompany.com
and follow us on Twitter,
Instagram,
Facebook
and LinkedIn.
Source: Cushman & Wakefield
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181210005635/en/
Cushman & Wakefield Media Contact:
Michael Boonshoft
PR
& Communications Lead
+1 212 841 7505
Michael.Boonshoft@cushwake.com
The
Coca-Cola Company Media Contact:
Scott Leith
Senior
Director, Financial Communications
+1 404 676 8768
sleith@coca-cola.com
Source: Cushman & Wakefield