CME Group, the world's leading and most diverse derivatives marketplace, today announced the sale of the NYMEX Building located at One North End Avenue to Brookfield Office Properties.
Brookfield will buy the 15-story, half million square-foot office building for $200 million. As part of the sale, CME Group will lease back the lower 222,000 square-feet of space in the building for a 15-year term, including the NYMEX Trading Floor as well as office and trading floor support space.
"CME Group remains committed to our floor based membership and open outcry trading services in New York, which continue to serve our customers well," said Kevin Lennon, Managing Director Real Estate at CME Group. "We are very pleased to sell the NYMEX building to Brookfield Office Properties, owners of the neighboring Brookfield Place, who will be great landlords for us and the other tenants in the building. With this sale, we will continue to update our New York offices to reflect the innovation and quality of our CME Group offices around the world."
Principal Holly Duran and Associate Jeff Mulder of Holly Duran Real Estate Partners LLC, CME's global real estate advisor since 1980, in partnership with James D. Kuhn, Newmark Grubb Knight Frank President and head of the firm's Capital Markets group, and Capital Markets Senior Managing Director Jennifer Schwartzman assisted in the sale of the building.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.