Real Estate Weekly
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Deals & Dealmakers

LEASES

NEW YORK

Cast Iron Real Estate announced the following leases:
• Luxury brand Georg Jensen signed a lease for 3,200 s/f of office and showroom space at 580 Broadway in Soho. The Copenhagen-based company signed a five-year lease. Ownership was represented by Steve Cytryn of Broad Prince Realty Corp. and the tenant was represented by David Barreto and Beth Chase of Cast Iron Real Estate Co.
• Party 2 Life, LLC (aka Pop 2 Life) signed a lease for 4,600 s/f of executive office space at 7 West 18th Street in the Flatiron District. The company, which recently partnered up with Azoff MSG Entertainment, is a marketing and music agency which specializes in branded entertainment. They signed a five-year lease with an asking rent of $50 psf. Ownership was represented by Bardwell Jones of Scandia Realty and the tenant was represented by David Barreto and Beth Chase.
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The Chart Group, a Manhattan-based financial services company, will relocate from the Rockefeller Center submarket to ATCO Properties & Management’s 555 Fifth Avenue. The merchant banking firm has taken a 7-year, 6,973 s/f lease comprising a portion of the 19th floor and the entire 20th floor at the LEED Silver certified office building, Jerry Suchman, managing director of ATCO Brokerage Services, represented the landlord in the long-term transaction, while David Glassman of Colliers International represented the tenant. Asking rents were $62 psf.

GRANT DOLGIN
GRANT DOLGIN

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Kalmon Dolgin Affiliates (KDA) has arranged a 5,000 s/f, long-term lease for Fast Action Inc., an art gallery and art storage provider at 396 Johnson Avenue, on the East Williamsburg/Bushwick border of Brooklyn, NY. KDA broker Grant Dolgin represented the tenant, Fast Action, Inc., and the owner, Wilmington Property Associates LLC, in the deal at 396 Johnson Avenue. Earlier this year, KDA was tapped as the exclusive leasing agents for the property. The warehouse at 396 Johnson Avenue totals 7,500 s/f.
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NYRE Marketing announced the relocation of its office to 605 Fifth Avenue. The new 1,800 s/f location will allow the business to further expand and allow greater interaction with clients. NYRE Marketing is a full-service marketing agency that specializes in the real estate industry. The company is a division of Plus972 Group, a branding, marketing and real estate investment firm based in New York City, with interests in New York, as well as Israel and Europe.
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MITCH KONSKER
MITCH KONSKER

Savanna announced that SQN will occupy approximately 7,293 s/f on a portion of the 28th Floor of 100 Wall Street for a ten-year term. SQN is an independent asset manager of alternative investment funds. Mitchell Konsker, Scott Cahaly and Kyle Young of Jones Lang LaSalle represented the landlord, Savanna, while Rob Wizenberg of CBRE represented the tenant in this transaction.

 

 

NEW JERSEY

Cassidy Turley negotiated a 33,000 s/f long term lease renewal on behalf of OFS Fitel at 19 Schoolhouse Road in Somerset. The team of Warren F. Searles, Jr. and Charles P. Parmelli, represented the tenant. The owner, The Hampshire Companies, was represented in-house by Kim Stirba-Reynolds. OFS is a designer, manufacturer and provider of optical fiber, optical fiber cable, connectivity, FTTx and specialty photonics solutions.
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CHRIS CONKLIN
CHRIS CONKLIN

JLL has completed a new lease for Pernix Therapeutics Holdings Inc. at 10 North Park Place, also known as The Park Square Building, in Morristown. The specialty pharmaceutical company signed a long-term lease for 6,428 s/f at the Class A office building. Pernix was represented by Chris Conklin, vice president, and Jason Benson, associate, along with Marc Hirschinger and Mark Siegler, executive vice presidents. The building owner, Penobscot Management, was represented by Jon Williams, director, and Joshua B. Cohen, associate director, with Cushman & Wakefield Inc. The specialty firm relocated to the building from its previous offices in Houston, Texas.
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Levin Management has announced two lease agreements totaling 7,400 s/f at 35-71 South Ocean Ave., a 23,000 s/f storefront retail space in downtown Patchogue. Levin’s senior leasing representative Jake Frantzman negotiated the transactions:
• Sushi restaurant 360 Taiko Sushi & Lounge leased 4,900 s/f
• Apparel retailer Jeans Fashion (2,500 square feet)
• Discount optical retailer America’s Best Contacts & Eyeglasses leased 4,500 s/f at Hamilton Plaza in Hamilton Township. The lease signing brings the Mercer County retail destination to 100 percent occupancy. Gloria Mercado, Levin’s leasing representative, negotiated the long-term lease. David Dunkelman of Soloff Realty served as tenant broker in the transaction.
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Bussel Realty Corp. announced Kalustyan Corporation has expanded by 50,000 s/f into Building C at 1835 Burnet Avenue in Union. Originally, the company leased 32,472 in Building B at the three-building industrial park. The expansion brings the company’s total occupancy at the industrial complex to 82,472 s/f. Vice president James Hodgkins of BRC was responsible for the transaction and represented Kalustyan Corporation. The building was represented by Ken Lundberg of NAI Hanson.
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National women’s clothing retailer Dress Barn has renewed its lease for 4,200 s/f at Summit Plaza in Hackensack. The 100,000 s/f retail property is owned and managed by Alfred Sanzari Enterprises. Jerry L. Barta, vice-president/director of leasing and marketing for Alfred Sanzari Enterprises, made the announcement.
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NAI James E. Hanson announced that Old Dutch International, Ltd., an online retailer of house wares, has renewed its lease at 421 North Midland Avenue, a 31,550 s/f warehouse property in Saddle Brook. The NAI Hanson team of Kenneth Lundberg and Steven Leitner represented the landlord, Wilbur ’96, LLC, in the transaction. Old Dutch International has used the building for its corporate offices, warehouse and distribution activities since 1997.

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