OMG !Fidelity Inked a lease taking over 24K square feet of 320 Park Ave. How come no one at the firm told the employees about this ? Will Fidelity be the suitor of Mutual of America and buy the firm out ??? Inquiring minds want to know....OMG !
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Just the name FIDELITY is going to rub good karma on fledgling MoA. Let's rent space out to VOYA, EMPOWER and PRINCIPAL. Hey-000 !
Fidelity was getting kicked out of its space down the block. MoA, as 75% owner of the 320 Park building, agreed to give up the space to bring in a strong tenant (increasing the value of the building. This was in the works for a long time (not a cash flow issue and Fidelity is not buying MoA).
Fidelity is smart. Takeover space at 320 Park right in another recordkeepers former Executive space. That is embarrassing to MoA and a gut punch but when you need the cash flow and revenue, you gotta do whats you gotta due...
They actually took over the 20th floor. Which was the executive floor.