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Article: CIBC World Markets Inks Deal to Become Name Tenant for Brookfield's 1.2 Million Square Foot 300 Madison Avenue Development.
- Article from:
- PR Newswire
- Article date:
- March 13, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, March 13 /PRNewswire/ --
In what will rank as one of the largest commercial real estate transactions of 2001, CIBC World Markets and Brookfield Properties Corp. (NYSE: BPO; TSE) today announced that CIBC World Markets (TSE: CIBC) has signed a 30-year lease covering the entire 1.2 million-square-foot building that Brookfield is developing at 300 Madison Avenue. The transaction is valued at $800 million, the companies said.
When CIBC completes its move to the new building in early 2004, it will house up to 3,000 employees, bringing all of CIBC's New York staff under one roof for the first time. The company's offices are now spread among four ...