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Leases

LEASES: Avison Young announces over 45,700 s/f of leasing

NEW YORK

DAVID LEVY

Food Network star and Iron Chef Masaharu Morimoto’s management arm, Morimoto Management, has signed a new lease to expand its presence at 110 West 40th Street in the Garment District by 3,000 s/f. The firm will utilize part of the second for general and executive offices David Levy and Brett Maslin of Adams & Co. represented both the landlord, One Ten West Fortieth Associates, and the tenant in the seven-year lease. Askign rent was $75 psf.

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TODD KORREN

Avison Young, the exclusive leasing agent for 1140 Avenue of the Americas, has announced over 45,700 s/f of leasing activity at the Midtown office tower. A team consisting of Todd Korren, Brooks Hauf and Peter Johnson represented the building owner, New York City REIT, in each of the four lease transactions which include:

• A 12,750 s/f new lease for Vatic Labs, a trading technology firm, for its New York City headquarters. Lance Leighton and Evan Margolin of Savills represented Vatic Labs;

• A 12,750 s/f lease extension and expansion for real estate investment firm Almanac Realty Investors. Silvio Petriello and Taylor Scheinman of CBRE represented Almanac Realty Investors;

• A 12,750 s/f lease extension for PSL Group, a pharmaceutical research, medical education, and publishing firm. Ryan McKinney and Lindsay Ornstein of Transwestern represented PSL Group;

• A 7,466 s/f lease renewal for Grace Beauty, a marketer, investor and distributor of beauty products. Brad Auerbach, Ariel Ball and Lauren Crowley Corrinet of CBRE represented Grace Beauty.

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CBRE announced the following leases:

• Italian accessory and swimwear company Calzedonia has renewed its 7,499 s/f lease at 601 Fifth Avenue in Midtown. Located on 5th Avenue between 48th and 49th streets, the building is owned by an entity affiliated with H&M. CBRE’s Richard Hodos, Joseph Hudson and Michael Remer represented the landlord in the transaction.

• New and recycled retailer Crossroads Trading Co. signed a new 7,090 s/f lease for their second Manhattan location at 48 West 14th Street, which is situated at the nexus of the Flatiron District and Greenwich Village. CBRE’s Michael Kadosh, Lon Rubackin and Ed Glackin represented the landlord in the transaction.

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ZACH FREEMAN

SJP Properties announced that Digital Reasoning, a cognitive computing services provider, has signed a lease for 5,819 s/f on the 31st floor of 11 Times Square. Headquartered in Tennessee, Digital Reasoning provides AI solutions to intelligence agencies, financial institutions and healthcare organizations in the U.S. The company is moving its New York City office from 853 Broadway to 11 Times Square. Kyle Wainwright and Paul Ippolito of Newmark Knight Frank brokered the deal for Digital Reasoning, while Zach Freeman of SJP Properties and JLL represented represented the landlord..

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T. Weiss Realty Corp. announced that Hotaling Gallo, a full-service insurance brokerage, has leased 5,636 s/f of office space in Melville and has relocated from Commack. Hotaling Gallo, a unit of The Hotaling Group, moved last month into Melville Corporate Center I, 105 Maxess Rd. The Hotaling Group, founded 20 years ago, has offices in Poughkeepsie, Houston, Miami and the Netherlands. The company provides life insurance, employee benefits, property and casualty, sports and entertainment, disability insurance, retirement planning, long term care, as well as estate planning insurance services. Craig Weiss, president of T. Weiss, represented the landlord in the transaction. Michael Murphy of Douglas Elliman represented Hotaling Gallo.

NEW JERSEY

Newmark Knight Frank (NKF) announced three recent leases and renewals totaling 20,000 s/f at Princeton Park, a Class A office building located at 1100 Cornwall Road in Monmouth Junction. The three-story building will welcome global mobility solutions provider Persistent Telecom Inc.; software services provider Thinklusive, Inc. and; IT services provider TekBasic, LLC. An NKF team of managing director Adam Silver and director Rob Loderstedt represented the landlord, Golden Gate Management.

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VANESSA KELTY

Lux Nails has leased 1,700 s/f at North Village Shopping Center in North Brunswick, announced Levin Management Corporation (LMC), exclusive leasing and managing agent for the 128,000 s/f property. LMC Senior Leasing Representative Vanessa Fernandez-Kelty arranged the long-term lease; Mary Situ of Coldwell Banker represented the tenant.

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Alfred Sanzari Enterprises signed a lease renewal and expansion with Rivkin Radler, LLP, for 12,411 s/f of office space at Court Plaza North located at 25 Main Street in Hackensack. The lease marks their second expansion at the complex since 2006 when they initially occupied 6,337 s/f at Court Plaza South. The firm’s continued growth has necessitated repeated expansion. The firm expects the New Jersey office to continue to grow its headcount and client base significantly in the coming years. Stephen Jennings, Vice President of Leasing and Marketing for Alfred Sanzari Enterprises, made the announcement.

CONNECTICUT

Newmark Knight Frank (NKF) announced a series of new leases at One Dock Street in Stamford, Conn. Senior managing director Tim Rorick and associate Jack McDermott represented landlord, Juster Properties and ClearRock Properties, in a series of transactions totaling over 32,000 s/fof new leases:

• An undisclosed tenant took the entire 5th floor comprising 16,713 s/f. James Ritman, executive vice president and managing director, and Janey Steinmetz, associate director at NKF, represented the tenant;

• The Cholula Food Company signed for 11,500 s/f on part of the 6th floor along with the entire 7th floor. James Ritman and Janey Steinmetz represented the tenant.

• Current tenant Six One Commodities expanded to 4,600 s/f in the building, a modern loft-style space and repurposed factory.

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