In the latest in a series of divestment moves, CME Group (NASDAQ:CME) has solicited help in deciding the fate of its NYMEX building. The company has retained the services of BGC Partners' real estate subsidiary Newmark Grubb Knight Frank and Holly Duran Real Estate Partners to advise it on options for divesting the 16-story edifice in Manhattan, which has been the headquarters of the exchange since 1997.
CME Group said it would continue to operate NYMEX in the building regardless of whether or not the structure is sold. In the case of a sale, the company would lease back part of the building, including the trading floor space.
This would mirror CME Group's 2012 sale of its iconic Chicago Board of Trade building. In that transaction, it sold most of the structure while retaining part of it for trading activities.
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