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Deals & Dealmakers

LEASES: Motion P/T signs Midtown lease, Fujifilm takes CT space

NEW YORK

Motion P/T, a national physical therapy chain has signed a 4,000 s/f commercial lease at 250 West 54th Street in Midtown. Motion provides physical therapy, occupational therapy, sports medicine and serve customers across 40 locations throughout the United States. The lease for the partial 4th floor is for 10 years and was asking rent was $64 psf. Michael Doetsch of Cresa New York represented the tenant and David Zar represented the landlord Zar Property NY in-house.

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NAI Long Island announced that Paul Schneider, Senior Director, and Carmine Inserra, Principal, represented Elite Search Group in the lease of 1,505 s/f of office space located at 255 Executive Drive in Plainview, New York. The space was leased from landlord Holiday Organization, which was represented by The Rochlin Organization.

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Michelle Abramov and Mark Kandkhorov of AssetCRG’s retail leasing team exclusively represented EyeCrafters LLC in its lease with Muss Development for 1,566 s/f of retail space 340 Jay Street in Downtown Brooklyn. The space is located at the base of the Brooklyn Renaissance Plaza, home to the 667 room Brooklyn Marriot Hotel. EyeCrafters, a high-end optical operator, had been a tenant in the location and was evaluating its options in the market. After an extensive negotiation lasting over a year, both tenant and landlord were able to extend the terms of this lease for an additional ten-year term. The Muss Development company was represented in-house by Ross Spitalnick.

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Helmsley Spear brokered a second lease extension for China Ting Fashion Group (USA) LLC in the Garment District totaling 6,824 s/f at 525 Seventh Avenue. The lease extension was announced by Kent M. Swig, President of Helmsley Spear. Peter Cannold and Scott M. Bloom, Senior Vice President of Helmsley Spear, represented the tenant. Steven Marvin and Sam Friedfeld were the landlord’s agents. The property is owned by 525 Delaware LLC. The 7-year lease extension is for space on the 16th floor.

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ABS Partners Real Estate secured a 7,000 s/f lease for Grant Associates, a national workforce development company, at Savanna’s 1825 Park Avenue, also known as the Lee Building. Grant Associates has leased space on the sixth floor of the recently renovated 12-story building. Andy Udis and Alison Miller represented Grant Associates. The building ownership was represented by a Cushman & Wakefield team of Mitchell Arkin, Myles Fennon and Omar Sozeksen, and a JRT Realty Group team led by Ellen Israel and Lauren Calandriello. Recent leasing activity at 1825 Park Avenue includes a 20,000 s/f lease with Carver Federal Savings Bank on the top floor and part of the seventh floor, which allowed the firm to maintain its historic presence in Harlem where the bank was founded 70 years ago, as well as a 9,000 s/f lease with NADAP.

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Siderow Commercial Group announced the following leases:
• SEE Eyewear leased 621 s/f of retail space at 1100 Madison Avenue at 83rd Street. Asking rent was $525 psf. Jaclyn Totolo and Jordyn Comras, RKF/Newmark represented the tenant. the landlord, Gerel Corp, was represented by Joshua Arcus and Peggy Dahan, Siderow Commercial Group.
• J’s Cleaners leased 570 s/f of retail space at 1248 Lexington Avenue at 84th Street. Asking rent was $250 psf. Peggy Dahan and Matt Leto, Siderow Commercial Group represented landlord, Parkoff Organization.

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NAI James E. Hanson advised on a 1,200 s/f lease for Palm Organix at Palisades Center Mall in West Nyack, NY. Michael Walters, Executive Managing Director of NAI James E. Hanson’s Corporate Services Group, represented the tenant in the transaction.

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T. Weiss Realty Corp., announced that Emplova, LLC has leased 1,556 s/f of Class-A office space in Melville at 330 South Service Road. The newly-formed human resources firm took occupancy of its space in Melville Corporate Center II, on Mar. 1. The transaction brings occupancy at the 88,000 s/f, Class-A office building to 100 percent. Other tenants include Northwell Health and Santander Bank. Doug Furer of Mariner Real Estate Services represented Emplova in the transaction, while Craig Weiss represented the landlord.

NEW JERSEY

NAI James E. Hanson negotiated a lease for 7,791 s/f of industrial space at 140 Spring Street, Unit C in New Providence, N.J. Barry Cohorsky, SIOR, represented the landlord, Davanne Realty Co & 19-25 Columbia Street Corp in the exclusive transaction with Untied Brewing. The space at the 66,000 s/f industrial building, will encompass a full production brewery as well as a tasting room. The space is situated less than a mile from the Murray Hill NJ Transit station as well as Interstate 78 and Route 22.

CONNECTICUT

Franco Fellah, Executive Vice President at HK Group, announced the 7,800 s/f lease of the building at 1501 Kings Highway East in Fairfield. The tenant is Q88 of Stamford, CT. Q88 is moving its Connecticut headquarters from Stamford to the Fairfield building and at the same time almost doubling its space. Q88 is a software provider to the maritime industry with offices in Stamford, London, Athens and Singapore. The company chose the 1501 Kings Highway East building due to its immediate proximity to the Fairfield Metro train station, combined with its modern industrial look. The move is to be completed sometime during this summer. Fellah represented the owner of the property, Powerscourt Westover, LLC.

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FujiFilm North America Group has leased 3,976 s/f of office/flex space at 204 Spring Hill Road in Trumbull, CT, announced Jon Angel, president of Angel Commercial. They will be relocating from Norwalk, CT. 204 Spring Hill Road is a 40,705 s/f office/flex building situated on a well-maintained property with abundant parking and street signage. It is less than one mile from the Route 25 Connector. Angel represented the landlord, Trefoil Park Properties LLC, in the transaction.

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