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
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Cushman & Wakefield Media Contact:
PR & Communications Lead
+1 212 841 7505
The Coca-Cola Company Media Contact:
Senior Director, Financial Communications
+1 404 676 8768
Source: Cushman & Wakefield