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Deals & Dealmakers

LEASES: Houlihan Lawrence inks lease for new Pelham sports complex, Milvado closes on 470,000 s/f in last half of 2018

NEW YORK

The New York office of Cresa announced the following leases:

• A 3,000 s/f office expansion on the sixth floor of 121 West 27th Street for MADRE. The international women’s advocacy non-profit organization currently has a 5,000 s/f office on the third floor of the building. Advising MADRE in the leasing were Managing Principal Jane Roundell and Vice President Leslie Keidan. The owner of the building, Saampro, was represented inhouse by Vijay Mehra. The asking rent for the five-year lease was $40 psf.

• The relocation of Hiller PC to 641 Lexington Avenue, between 54th and 55th Streets. Advising the law firm in the leasing of the approximately 6,690 s/f full-floor office space on the 29th floor was Cresa Vice President Leslie Keidan. Building owner Rudin Management was represented inhouse by Rob Steinman, senior vice president. The boutique law firm, will take possession of the new space and leave its current offices at 600 Madison Avenue in the second quarter of 2019. The asking rent for the 10-year lease at 641 Lexington Avenue was $68 psf.
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Houlihan Lawrence’s Commercial Group has announced the completion of a lease transaction with REB Sports Complex for an 18,000 s/f building in Pelham Manor featuring indoor athletic fields. Daniel Hickey represented REB Sports Complex in the direct lease negotiation with the Village of Pelham Manor which owns the building located at 5 Canal Road. The new complex includes two fields measuring 80 by 100 ft. and four mini fields measuring 50 by 100 ft. Teams from around Westchester County and the Bronx can reserve year-round accommodations on an hourly basis for soccer, football, lacrosse, field hockey, cross fit or any other field sport.
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Milvado Property Group announced 30 lease deals during the last two quarters of 2018 totaling 474,578 s/f. The transactions comprised a combination of new tenant leases and renewals. Representative deals included:

• Evers Direct LLC signed a new lease on 39,867 s/f at 95 Horseblock Road in Yaphank. Bob Misa of Industry One Realty Corp, represented Evers;

• JB Prince Company Inc. signed a new lease on 21,136 square feet at 79 Express Street in Plainview. Tom Dimicelli of JLL represented JP Prince;

• Ultrasound Solutions Corp. signed a new lease on 10,249 s/f at 101-125 Comac Street in Ronkonkoma. Jason Maietta of Colliers International represented Ultrasound;

• Interior Specialties Group signed a new lease on 17,500 square feet at 90 13th Avenue in Ronkonkoma. Jim Dunne of Atlantic Property represented Interior Specialties;

• WestRock Company expanded and renewed 82,000 s/f at 325 Duffy Avenue in Hicksville. Mindy Lissner and Paul Leone of CBRE represented Westrock.

• Summit Manufacturing LLC renewed 79,540 s/f at 717-725 Broadway Avenue in Holbrook. Chuck Tabone of Newmark Knight Frank, represented Summit.

• Parts Authority Inc. renewed on 26,500 s/fat 99 Lafayette Drive in Syosset.
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Architecture-engineering firm edg has leased a full-floor office space at 58 West 40th Street. The firm has entered into a 10-year lease, brokered by Normon Bobrow & Co., with move-in slated for February 1, 2019. edg will relocate from Heskel Paramount LLC’s 152 Madison. The new 7,750 s/f office will host a series of bespoke work environments, as well as lab space designed to accommodate a range of technologies. Landlord LK Belt, LLC was represented inhouse by John H.K. Belt.

NEW JERSEY

Denholtz Associates announced a lease renewal with Health and Natural Beauty for 11,200 s/f of flex space at 140 Ethel Road West in Piscataway. The single-story, 108,875 s/f industrial flex building that is situated at Exit 5 of I-287 near all major commuting highways in central New Jersey. Health and Natural Beauty, a private label producer of oral care, skin care and hair care products, currently utilizes 140 Ethel Road West as its development and manufacturing site. Jaime Zimmel of Zimmel Associates represented Denholtz Associates in the transaction.
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NAI James E. Hanson negotiated a 5,000 s/f industrial/flex lease at 475 Mola Boulevard in Elmwood Park, Jeff DeMagistris, SIOR, Tom Vetter, SIOR, and Tom Ryan represented the owner,

The Stro Cos., in the exclusive listing. 475 Mola Boulevard is a 45,000 s/f industrial/flex building with 7,000 s/f of office space, six loading docks, one drive-in and 165 parking spaces. Achieve 24 Fitness currently operates 13,000 s/f of the building as a fitness center. NAI Hanson negotiated the sale of the building to The Stro Cos. earlier this year. The Stro Cos. acquired the building with the goal of subdividing the space and bringing it to full occupancy.

Digirad Corporation, a pioneer in the field of solid-state nuclear detector technology for the healthcare industry, signedthe 5,000 s/f lease at 475 Mola Boulevard to enable the company to better service their clients throughout northern New Jersey.

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