The property asset involved in this transaction is an office space located at 261 5th Avenue in the Midtown South market. The total square footage of the space is 42,000, and the asking rent is approximately $78 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: 12-year lease
• Landlord: The Feil Organization
• Tenant: MiQ Digital USA
• Landlord's Representative: Andrew Wiener, Timothy D. Parlante & Kyle Young - The Feil Organization
• Tenant's Representative: Chase Gordon, Tyler Marshall - Transwestern; Josh Kurstin - Colliers

This lease marks an expansion for MiQ Digital USA, who increased their footprint from a prior 23,400-square-foot space to the new 42,000-square-foot lease, incorporating additional floors in the building.