In a transaction arranged by Savitt Partners’ The Schoen Group, apparel company ZINNTEX LLC has committed to a 5,670 s/f showroom lease at 260 West 39th Street. After being at 1407 Broadway for over 20 years, Zinntex LLC will be relocating their showrooms. The average asking rent at the 155,000 s/f loft office building is $50 psf. The Schoen Group team of Marc Schoen, Brian Neugeboren and Alicia Parente negotiated the seven-year lease transaction on behalf of Zinntex LLC. Michael Orbach of MJ Orbach Associates represented the building ownership. ZINNTEX LLC is a family owned business that designs and sells both ladies and girls sportswear from its New York City headquarters.
Eastern Consolidated Senior Director and Principal James Famularo has announced the closing of three Manhattan leases:
• Metro PCS will be relocating to a 750 s/f ground floor retail space at 55 West 14th Street between Fifth and Sixth Avenues in Chelsea from its current location around the corner on Sixth Avenue between 14th and 15th Streets. Famularo and Ravi Idnani, Director, represented the tenant in negotiating the five-year lease. Gary Alterman of RFK represented the landlord, Milford Management.
• Vixsol, a Japanese tech firm, has leased a 1,600 s/f office space at 370 Lexington Avenue in Midtown East. Famularo, Idnani, and Associate Director Aric Trakhtenberg represented the tenant in negotiating the seven-year-lease. Transwestern represented ownership.
• New York Sun and Tan Spa has leased a 2,600 s/f space on the second and third floors of 1003 Second Avenue between 53rd and 54th Streets in Midtown East. Famularo, Idnani, and Associate Director Kevin Bisconti represented the tenant, which also operates sites in Murray Hill, the Upper East Side, and Howard Beach, Queens. The team worked directly with the owner to negotiate the 10-year lease.
In a transaction arranged by CBRE, Kari-Out Corp. renewed and expanded into 7,630 s/f on the third floor of 399 Knollwood Road in White Plains, NY. Founded in 1964, the company initially started as a supplier of condiments to the food industry. Now it has expanded into virtually all aspects of the food industry, employing almost 200 people and has locations throughout the country. Mike McCall of CBRE represented Kari-Out Corp. in the lease negotiations. Jamie Schwartz, Executive Vice President of GHP Office Realty, LLC, represented the building ownership. GHP Office Realty, LLC is the exclusive leasing agent for the property.
JLL has completed four new retail leases, totaling 30,000 s/f at Wall Promenade, 1919-1925 State Route 35 in Wall Township, N.J., for property owner RT 35 Wall Promenade LLC. The building owner was represented by Marta Person Villa, senior vice president, with JLL. She worked with Eric Mund, president, with RT 35 Wall Promenade LLC.
• Aldi completed a 15-year lease for 20,000 s/f of retail space at Wall Promenade. The grocery chain was represented by Brian Wherty, principal, of Equity Retail Brokers.
• MedExpress inked a 10-year lease for 4,750 s/f of retail at the shopping center. The urgent care center was represented by Kenny Mandelbaum and Jerry Welkis of Welco Realty Inc.
• Rock On Nails signed a 10-year lease for 4,000 s/f of retail at Wall Promenade. The nail salon was represented by Beth Falletta, sales associate, with Lakis Commercial Realty LLC.
• Starbucks completed a 10-year lease for 2,000 s/f at the shopping center. The coffeehouse chain was represented by Gregg Medvin, vice president, with Pierson Commercial Real Estate LLC. The new Starbucks location will include a drive through.