Transactions reported this week included the sale of an office in New York City.
Alexandria Real Estate Equities, acquired 219 East 42nd Street for $203 million on a fee simple basis, through a membership interest in the purchasing entity 219/235 East. As part of the transaction, 219/235 East leased back 219 East 42nd Street on a triple net basis to Pfizer.
Pfizer announced earlier this year plans to relocate its global office headquarters to Manhattan’s Hudson Yards neighborhood in 2022.
The 350,000-square-foot, 10-story office property is located in the heart of Manhattan’s East Side Medical Corridor.
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