Real Estate Weekly
Image default
Deals & Dealmakers

Leases: Hedge fund Redmile takes full floor at 45 West 27th

NEW YORK

The Kaufman Organization secured an eight year, 5,702 s/f lease for Redmile Group at 45 West 27th Street (45W27) within Kaufman’s Madison Square Portfolio. Redmile, a San Francisco-based hedge fund, will occupy a full-floor space on the 11th floor of the building. The firm oversees both early and later stage venture, private equity and debt financing for its clients. Recently, Redmile invested $45 million in NightstaRx, a U.K. startup company specializing in gene therapy. Michael Heaner, partner at The Kaufman Organization, Grant Greenspan, principal and Elliot Warren, leasing director represented the landlord, 45 W 27 Leasehold LLC; Vincent Tuminelli and Richard Plehn of Cresa New York represented tenant. Asking rents were low $70’s-per-square-foot. 45W27’s ground floor tenant, Oscar Wilde’s, recently opened its doors to the public. The Victorian themed bar features artifacts hand-selected from all over the globe and cocktails and menu items celebrate the legendary Irish writer.

•••

Mitsui Sumitomo Marine Management (USA), Inc. signed a new lease for the entire 18th floor at 527 Madison Avenue, the Class A office tower owned by Mitsui Fudosan America (MFA). It will occupy the 7,500 s/f move-in ready space in early September. The additional space is intended to support continued expansion in New York. The company will retain its current 560 Lexington Avenue location as its executive office. Jim Frederick, a vice chairman with Cushman & Wakefield, is exclusive leasing agent for the building. The tenant negotiated directly with Keith Purcell, vice president, Asset Management and Leasing for Mitsui Fudosan America, and Jim Frederick. Frederick, Peter Occhi and Gordon Hough are exclusive leasing agents for 527 Madison Avenue.

•••

Robert Skinner, licensed real estate salesperson, announced the closing of a 2,000 s/f restaurant space lease at 20 Warren Street in Lower Manhattan. The space is being renovated from that of a bar to accommodate a new restaurant use. The lease is for a period of 15 years. The space will be fully built out to include a kitchen and Japanese themed restaurant. The lease was negotiated under a previous exclusive agreement from when Skinner was with Keller Williams NYC. Also representing the building owner were Colin McRee and Bekim Lulanaj, of Keller Williams NYC, and Paul Ramirez, of Flatiron Real Estate Advisors.

•••

Hokku PR is moving to 20 West 22nd Street in the Flatiron District. Hokku, a public relations agency for technology companies and start-ups, signed a three-year, 1,507 s/f lease. The property is a 17-story tower between Fifth and Sixth Avenue. Other tenants in the building include the Washington Post, fitness fashion brand Bandier and digital publisher Techonomy Media. Katherine McCorkle of SquareFoot represented Hokku. Meanwhile, Robert Finkelstein represented the landlord ABS Partners.

NEW JERSEY

Ripco Real Estate announced that Morristown restaurant Hibiscus is expanding with a new concept on Route 10 in East Hanover. Hibiscus Express Island Grill is located in a prominent restaurant space on Route 10 in front of Target.  The space also features a large outdoor patio. David Townes and Jake Frantzman of Ripco Real Estate arranged the 3,065 s/f  lease on behalf of owners of 136 Route 10, Fairfield-based Woodmont Properties. Alison Horbach also of Ripco Real Estate represented the tenant. Frantzman and Townes are continuing to market the last remaining space at 136 Route 10.

•••

SKIDATA has opened a new, 11,500 s/f United States headquarters office at Albany Street Plaza in New Brunswick. Cushman & Wakefield headed the site search and the project management for the global access solutions and visitor management organization. SKIDATA relocated from nearby Hillsborough, N.J. Cushman & Wakefield’s Warren Searles represented SKIDATA in its search and lease negotiation, and Mary DaCosta served as project manager for the expansion move. Sam Boraie served as landlord rep for Albany Street Plaza. Austria-based SKIDATA is a worldwide leader in access solutions and visitor management, according to the company’s website. More than 10,000 installations in over 100 countries enable the fast and secure access of people and vehicles to ski resorts, stadiums, airports, shopping malls, cities, spa and wellness facilities, trade fairs, and amusement parks.

•••

NAI James E. Hanson announced a lease for 24,488 s/f of industrial space to Beavex Corp. at 343 Murray Hill Parkway in East Rutherford, N.J. Kenneth Lundberg, SIOR, Steve Pastor and Patrick Lennon represented the landlord, 343 Murray Hill Parkway, Inc., and Jackson Hill and Luke Denny of Fischer & Co. represented the tenant in the transaction. 343 Murray Hill Parkway is a single-story 53,361 s/f industrial building with 4,000 s/f of office space, 21 ft. clear ceilings, four tailgates and one over-sized drive-in. The property is located just west of MetLife Stadium and offers accessibility to the New Jersey Turnpike and New York City. Beavex is a provider of time-critical, same-day transportation and logistics services.

CONNECTICUT

Ricardo E. Cordido, Senior Vice President and Dave Cervero, Associate Vice President of HK Group have completed the long-term lease of Arooga’s second location in Connecticut. The soon-to-be-built free standing restaurant is situated within the newly developed Big Y shopping plaza located at 405 Bridgeport Ave, Shelton, CT. Arooga’s 7,000 S/F restaurant will include over 100 TVs and outdoor dining. Shelton’s Arooga’s will become Mohegan Holdings Company, LLC fourth location after having announced a multi-unit franchise agreement in May of 2014 to bring 15 Arooga’s Grille House and Sports Bar to the New England region. HK Group represented Mohegan Holdings Company, LLC and Saugatuck Commercial represented the Landlord.

Related posts

Cushman team brings pair of new hotels to market in Flushing

REW

Savanna leases One Court Square to Altice USA

REW

Pride flag raised at Newark business center

REW