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Deals & Dealmakers

LEASES: Pliskin closes deal in Lynbrook, CPEX closes in Queens

New York

Pliskin Realty & Development announced that Pliskin Sales Associate Michael DiBella recently completed a 5-year lease for a 1,460 square-foot office space located at 303 E. Merrick Road, Lynbrook, NY. DiBella represented the new tenant, Greystone Marketing, Inc., a business loan provider. The landlord, 303 Merrick, LLC, was represented by David Sargoy of Brown Harris Stevens, Commercial Real Estate LLC.

DiBella concentrates on property sales and leasing assignments. He brings to his role extensive sales experience, as well as direct retail experience as a former owner/manager of multiple food and beverage enterprises.
He resides in Bellmore, NY.

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CPEX Real Estate recently completed a lease transaction at 258-01 Hillside Avenue in Queens. The incoming tenant, Mona’s Style & Fashion, is expanding to a larger space after outgrowing their current Hillside Avenue location.

CPEX’s Retail Leasing Team, consisting of Managing Director Ryan Condren, Associate Director George Danut and Associate Keat Chew, represented the landlord in negotiating the lease transaction.

Located on the corner of Hillside Avenue and 258th Street in Floral Park, 258-01 Hillside Avenue has 6,000 square feet of ground floor commercial space. Mona’s Style & Fashion will occupy approximately 3,400 square feet in their new location.

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Expedia, Inc. one of the world’s leading travel companies, is planning a journey of its own – to the Empire State Building, where it has leased more than 9,000 square feet on the 72nd floor, announces Empire State Realty Trust, Inc.

Founded in 1996 and headquartered in Bellevue, Washington, Expedia has a portfolio that encompasses approximately 12 of the world’s most notable brands, including Hotels.com, Hotwire, Orbitz Worldwide, Travelocity and CarRentals.com.

Brian Hay, Tim Hay, Sacha Zarba and Robert Hill of CBRE represented Expedia in the lease negotiations. Landlord representation was provided by Fred C. Posniak and Shanae Ursini of ESRT, along with Paul Glickman, Jonathan Fanuzzi, Kip Orban and Harley Dalton of JLL.

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A total of nearly 50,000 square feet of transactions have recently been completed at Princeton International Properties’ 150 East 52nd Street Midtown Manhattan office building, also known as Tower 52. The building, which is located between Lexington and Third Avenues, recently underwent a major capital improvement program, featuring a new modernized lobby.

A Cushman & Wakefield team of Harry F. Blair and Sean N. Kearns represents Princeton International Properties as exclusive leasing agent. The team represented the landlord in five new leases in the building. Additionally, four transactions, which included renewals or expansions, were negotiated in-house by the Princeton International Properties Corporation team of David Tawfik and Robert Benedetto.

The recent new lease transactions at Tower 52 include:
System One Holdings, LLC signed a new lease for a total of 5,349 square feet on the 21st floor. Eric Cagner of Newmark Grubb Knight Frank represented the tenant.
Greystar Management Services, LLC signed a new lease for a total of 4,209 square feet on the 32nd floor. Joseph Genovesi, John T. Harte, Ryan J. Rafter of Savills Studley represented the tenant

Sussman Sales Company, Inc. signed a new lease for a total of 4,094 square feet on a portion of the 32nd floor. Evan Margolin and Lance Leighton of Savills Studley represented the tenant.

Reneo Capital Management LP signed a new lease for a total of 3,363 square feet on the 27th floor. Charlie Stephens of Cushman and Wakefield, Inc. represented the tenant.

POSID – Korea Post signed a new lease for a total of 2,954 square feet on the 7th floor. Stephan Steiner of Savills Studley represented the tenant.

E Squared Capital Management signed a new lease for a total of 2,736 square feet on the 22nd floor. Daniel Hassett of Summit Real Estate Partners represented the tenant.

In addition to the above referenced transactions, the following tenants renewed leases or expanded their space within the Tower:

TiVo, Inc. expanded into an additional 9,500 square feet of space within the building effective September 2015. John Bracket & Peter Occhi of DTZ represented the tenant

Batallure Beauty expanded into an additional 8,749 square feet of space within the building.

Eagle Hill Advisors signed a new lease for 2,427 square feet of space on the 5th floor.

Oddo NY Corporation expanded into additional space on the 5th floor; they now occupy 5,054 square feet.

Tower 52, built in 1984, underwent a multimillion-dollar lobby renovation, which significantly increased the size of the lobby. A full glass cube was installed at the main entrance, extending the entranceway out toward the 52nd Street. A stunning massive stone lobby desk and a sculptural wood wall greets tenants and guests as they enter the building. Beautiful stone, imported from Europe, has been used to create a modern yet warm environment. The sound of three cascading waterfalls can be heard from the east wall of the lobby.

 

New Jersey

National gym chain Crunch Fitness has leased 23,000 square feet at Rutgers Plaza in Franklin Twp., continuing the franchise’s rapid expansion in key markets throughout the United States. The 266,650-square-foot Somerset County shopping center is exclusively leased and managed by Levin Management.

Levin Management represented the property in negotiating the long-term transaction. Chuck Lanyard of the Goldstein Group represented the tenant.
As Americans become more health conscious and focus greater attention on diet and exercise, low-cost fitness chains are expanding at a record pace across the country, according to Matthew K. Harding, president of Levin Management.

There is a presale enrollment center currently open at Rutgers Plaza next to Venus Jewelers.

Co-anchored by a 98,700-square-foot Kmart and a 74,000-square-foot Stop & Shop, Rutgers Plaza features a lineup of national and regional tenants, including Office Depot, Dollar Tree, Burger King, GameStop, Chase Bank, Plaza Cleaners, GNC and Venus Jewelers, among others. Situated on Easton Avenue at Kennedy Boulevard, Rutgers Plaza serves a growing residential population of more than 263,000 people within a five-mile radius. The marketplace offers an average household income of nearly $106,000 within one mile of the property.

Space availabilities at Rutgers Plaza range from 1,500 square feet to 9,700 square feet.

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John G. Udell, President of Weichert Commercial Brokerage, Inc., is pleased to announce that Senior Vice President Scott Maynard and Senior Vice President David Williams leased 26,000 sq ft of industrial space at 195 Cortlandt Street in Belleville.

This property is being converted into a large, multi- specialty medical building with onsite labs, x-ray and urgent care facilities. The neighborhood is void of this usage and the town is excited about the upcoming finished use. Maynard and Williams represented the Landlord. The Tenant was represented by Peter Scrivo from Palestina Scrivo Real Estate Agency.

 

Connecticut

Charter Realty & Development Corp is pleased to announce, that Carol Hutchinson, exclusive broker of Dollar Tree, has secured a lease for a 13,274sf location at 10 School Street in East Hartford, CT.

Dollar Tree, Inc. is an American chain of discount variety stores that sells items for $1 or less. A Fortune 500 company, Dollar Tree is operates more than 4,900 stores throughout the 48 contiguous United States and Canada. Each Dollar Tree stocks a variety of products including national, regional, and private-label brands.

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