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Deals & Dealmakers

LEASES: Cresa gets radio giant tuned into midtown; Lee NYC handles Naftali deal

JANE ROUNDELL

NEW YORK

Cresa arranged new offices for Gen Media Partners at 363 Seventh Avenue, between 30th and 31st Streets. Advising the media firm in the leasing of the approximately 3,400 s/f, full eighth floor office space was Cresa Managing Principal Jane Roundell.  Gen Media Partners, which is the largest independent radio representation firm in the U.S., is relocating from 60 East 42nd Street. Its new offices will be in the same building as one of its most recent acquisitions, Sun Broadcast Group, which also has a full-floor space.
The term of the lease is three years and Gen Media Partners is expected to take possession of the space in January 2019. Representing the landlord was Michael Segerman of Dynamik Real Estate Group. The asking rent was $54 psf.
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Robison Energy has signed a long term lease for approximately 11,000 s/f of office space located at Gateway Plaza, 55 S. Main Street, Portchester, NY. The office space will serve as Robison’s new Headquarters and is blocks away from their relocated delivery, service and warehouse space located at 45 Ryan Avenue in Portchester. Jamie Schwartz, Executive Vice President of GHP Office Realty, LLC, an affiliate of Houlihan-Parnes Realtors, LLC, represented Robinson Energy. Robison will be relocating its headquarters from 15,000 s/f of office and warehouse space at 500 Executive Blvd. in Elmsford . Earlier in 2018 Robison signed a lease for a 16,400 s/f industrial building, a 2,750 s/f warehouse building and a 35,000 s/f contiguous on-site parking/storage lot located at 45 Ryan Avenue consolidating its delivery, service and warehouse operations from Mt. Kisco and Mt. Vernon. Portchester Gateway LLC, the ownership entity of DeLaurentis and his partners, purchased the 40,000 s/f building in August 2018 for $4.25 million.
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COREY ABDO

Lee NYC’s Corey Abdo, Executive Managing Director/Principal, David Toran, Managing Director and Ari Waldman, Director, arranged a 10-year, 8,455-s/f lease for the entire 45th floor at 152 West 57th Street for Naftali Group, a real estate development and investment firm. The company is relocating from 1700 Broadway, between West 53rd and West 54th Streets, where their office was housed in 4,500 square feet of space. The property owner, TF Cornerstone, was represented by Matt Leon of Newmark Knight Frank. Naftali Group will take occupancy on the 45th floor on May 1, 2019.

NEW JERSEY

Lerner David signed a lease for the relocation of its headquarters to 20 Commerce Drive in Cranford, New Jersey. Represented by Newmark Knight Frank, Lerner David is moving its headquarters from Westfield, where the firm had been for nearly its entire 50-year history. Lerner David also has offices in Japan and China. 20 Commerce Drive is a fully-amenitized Class-A building with direct access to the Garden State Parkway. Lerner David was represented by David Simson, Vice Chairman, and Dan Reider, Associate Director, in NKF’s Rutherford, New Jersey office, and Michael Jones of Cole Schotz. The new lease encompasses 34,373 s/f for a term in excess of 10 years. Landlord Signature Acquisitions had external representation from Joseph Sarno of CBRE and internal representation from Eric Zabarkus in this transaction. Signature Acquisitions purchased 20 Commerce Drive in a portfolio from Mack-Cali in 2017 and is in the process of modernizing the building.
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Advance Realty announced the addition of three restaurants to the tenant roster of Paramus Crossroads, the company’s 141,825 s/f shopping and dining destination at the intersection of Route 17 and the Garden State Parkway in Paramus. Dartmouth Company Vice President Jamie Sackeim and Senior Associate Vicki Ezra represented Advance in the transactions. The following restaurants have signed leases at a new 40,000 s/f building being added to the development:
• Firenza Pizza: Specializing in handcrafted and made-to-order pizza, Firenza Pizza will offer stone hearth-baked pizza as well as customizable salads, oven-baked wings and meatballs. Cushman and Wakefield Senior Director David Townes represented Firenza Pizza.
• Jersey Mike’s: The New Jersey-based, counter-serve sandwich chain will serve jumbo subs customized with premium cold cuts and a variety of toppings, as well as hot sandwiches, wraps, classic sides, drinks and desserts. Gary Krauss of Pierson Commercial Real Estate represented the tenant.
• Mamoun’s Falafel: Paramus Crossroads will be the company’s fourth New Jersey location for Mamoun’s Falafel, which has provided high quality Middle Eastern Food since 1971. Gary Krauss of Pierson Commercial Real Estate represented the tenant.
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KBS announced the signing of 17,857 s/f in leases at Woodbridge Corporate Plaza in Iselin. Omni Eye Services expanded their lease, Lavinstar Logistics, Inc. renewed their lease, and Fresenius Vascular Care, Inc. and Adecco signed new leases at the property. Woodbridge Corporate Plaza is a six-building, Class A office plaza comprised of over 629,000 s/f. Michael Staskiewicz of Effective Realty represented Omni Eye Services, Jim Scancarella of Cresa represented Fresenius Vascular Care, Inc., Warren Searles of Cushman & Wakefield represented Adecco and Jamie Drummond and Andrew Perrotti of Newmark Knight Frank represented KBS in the transactions.
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STEVE JENNINGS

Alfred Sanzari Enterprises has inked a lease deal with Party Rental Ltd. for 9,549 s/f at Heights Plaza located at 777 Terrace Avenue in Hasbrouck Heights. Based in northern New Jersey since their founding, Party Rental Ltd. currently houses their over three million rental items in a 300,000 s/f industrial building at 295 North Street in Teterboro Their lease of 9,549 s/f at Heights Plaza will ensure that they have an equally impressive space for their operations and administrative teams in proximity to their distribution center. Stephen Jennings, Vice President of Leasing and Marketing at Alfred Sanzari Enterprises, made the announcement.

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