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Deals & Dealmakers

Ad agency inks short-term renewal on NYC office, warehouse

The New York City office of Avison Young arranged two lease renewals totaling 11,440 s/f for Lamar Advertising Company, one of the nation’s largest outdoor advertising companies.

The transactions included a 9,000 s/f full-building lease renewal for a warehouse/storage/office facility at 53-17 Vernon Boulevard in Long Island City, and a 2,440 s/f lease renewal for a sales office on the 8th floor of the Chanin Building at 122 East 42nd Street in Midtown Manhattan. 
 

ARTHUR MIRANTE

An Avison Young team including Arthur J. Mirante II, principal, and Jean-Philippe (JP) Krahmer, associate, represented the tenant . The owner of 53-13 Vernon Boulevard was represented in-house by Andrew Eberstein, and the landlord at 122 East 42nd Street was represented by a Cushman & Wakefield team comprised of James B. Frederick, Peter Occhi and Gordon Hough.

Mirante said, “We were pleased to have accomplished our client’s objectives in renewing their occupancy in two preferred locations in the New York market.”

He noted that the short-term renewal of the office lease was consistent with the post-COVID uncertainty in the Manhattan market.

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