Real Estate Weekly
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Deals & Dealmakers

LEASES

NEW YORK

David Levy
David Levy

Adams & Co. Real Estate recently brokered 11deals for a total of 8,960 s/f at 110 West 40th Street. David Levy, principal, and Brett Maslin represented the landlord, One Ten West Fortieth Associates, as well as the tenants in the following transactions:
• A 1,603 s/f renewal for Goldstein Company, CPA. Asking rent was $52 psf. Goldstein Company plans to use the space for offices of accountants, attorneys and general administrative offices.
• A 1,202 s/f new lease for KR Intercorp, Inc. Asking rent was $50 psf. KR Intercorp plans to use the space for general and executive offices for their business.
• A 1,154 s/f renewal for Richard Backer, CPA. Although details of the transaction were not disclosed, asking rent was $48 psf. Richard Backer plans to use the space for general and executive offices for their CPA firm.
• A 957 s/f new lease for AllertonFox Construction, LLC. Asking rent was $50 psf. AllertonFox Construction plans to use the space for general and executive offices for their construction business.
• A 915 s/f renewal and expansion for Douglas B. Seely, Inc. Asking rent was $48 psf. Douglas B. Seely plans to use the space for general and executive offices.
• A 796s/f new lease for Bosideng USA, Inc. Asking rent was $50 psf. Bosideng USA plans to use the space for general and executive offices.
• A 619s/f new lease for Jovid Fabrics, INC. Asking rent was $48 psf. Jovid Fabrics plans to use the space for the wholesale of textiles.
• A 617 s/f renewal for James Yarn Sales Co., Inc. Asking rent was $48 psf. James Yarn Sales plans to use the space for general and executive offices in connection with its business.
• A 475 s/f renewal for Yettpo, Inc. Asking rent was $48 s/f. Yettpo plans to use the space for general and executive offices.
• A 342 s/f renewal for Think Big Buys, Inc. Asking rent was $50 s/f. Think Big Buys plans to use the space for a buying office in connection with their business.
• A 280 s/f renewal for CRT Restaurant, Inc. Asking rent was for $50 psf. CRT Restaurant plans to use the space for general and executive offices in connection with its business. Grant-Dolgin2015

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Kalmon Dolgin Affiliates, Inc. (KDA) arranged a 6,200 s/f long-term lease for Beverage World, a wholesale beer distributor, at 40-48 Lombardy Street in Brooklyn. Grant Dolgin of KDA represented the tenant, while Jean Cook, also of KDA, negotiated on behalf of the landlord, Gesco Ice Cream Vending Corp., in the deal. Beverage World, a Brooklyn staple for more than 70 years, carries more than 500 varieties of domestic and imported beer, and boasts one of New York City’s largest keg selections. It also offers delivery to home and office. The new lease on Lombardy Street represents a relocation from 402 Meeker Street, which is being redeveloped as a hotel. The one-story building at 40-48 Lombardy Street totals 10,000 s/f and is also occupied by Joli Seafood distributors.

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Delmhorst & Sheehan, Inc. announced that it represented Digital Management Services, LLC in its lease renewal on the 15th floor of 780 Third Avenue in Midtown Manhattan. The 2,515 s/f office serves as the headquarters for the company.

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A suburban Philadelphia bank has signed a lease in Melville for what will be its first office on Long Island. Customers Bank leased 6,888 s/fof Class-A office space from T. Weiss Realty Corp. at 324 S. Service Rd. for a lending office. The new office is expected to open in February and will act as a National Small Business Administration (SBA) loan production office as well as a Private/Commercial banking office. Adam Schindler, a senior vice president of Vienna, Virginia-based Serten Advisors, represented Customers Bank in arranging the lease. Craig Weiss, managing director of T. Weiss, represented the landlord in-house.

 

NEW JERSEY

Equus Capital Partners, formerly BPG Properties, announced the following leases:
• Hamilton Services LLC signed a lease for 21,922 S/F at Arbor 600 in Princeton, New Jersey. The tenant was represented by Peter Dodds of Morford & Dodds Realty; the landlord was represented by Jim Kinzig of Aegis Property Group.

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Sitar Realty Company announced the following lease real estate transactions:
• 134,027 s/f of industrial space at 112 Melrich Road, South Brunswick from PPF Industrial to Kellogg’s. Gregg Nowell represented the tenant.
• 50,400 s/f of industrial space from Monmouth Real Estate to Kellogg’s Company at 29 Corporate Drive, Orangeburg, New York. Gregg Nowell represented the tenant.
• 15,000 s/f of industrial space at 225 Willow Brook Road, Freehold from Cusa Realty to Builders Services. Paul Cusa represented the landlord.
• 5,400 s/f of office space at 360 Avenue P, Newark from Preferred Freezer Services of Newark, LLC to Sapphire Power Finance, LLC. David MacDowell and Bill Sitar Jr. represented the landlord.
• 4,380 s/f of office space at 1501 Livingston Avenue, North Brunswick by Analytical Logistics Labs, LLC from 1501 Livingston, LLC. Joseph Allegro and Bill Sitar Jr. represented the tenant.
• 2,450 s/f of retail space at 305 Lake Avenue, Asbury Park by Electric Tattoo from Cookman Asbury Associates I, LLC. Susan Burger represented both the landlord and the tenant.
• 6,000 s/f of industrial space at 245 Summit Point Road, Henrietta by NRG Home Solar from Gallina Development Corporation. Ron Schrader Jr. represented the tenant.
• 5,646 s/f of office space at 766 Shrewsbury Avenue, Shrewsbury by RCS Corriente Holding, LLC from Wall Street Access, Inc. William Sitar Jr. and Joseph Allegro represented the landlord.

Jim Kinzig
Jim Kinzig

• 4,228s/f of office space at 813 Arnold Avenue, Point Pleasant from The Clayton Family, LLC to Midlantic Medical Review, Inc. William Sitar Jr. and Robert JanTausch represented the landlord and Robert JanTausch and Brian Schrader represented the tenant.
• 3,750 s/f of retail space at Summerton Plaza, 335 Route 9, Manalapan by Gen Z Pre School, LLC from Summerton Group, LLC. Joseph Allegro and Douglas Sitar represented both the landlord and the tenant.
• 5,100 s/f of office space at 60 Walnut Avenue, Clark by The Counseling Center at Clark, LLC from Tak Realty & Investments, LLC. Joseph Allegro and William Sitar Jr. represented the tenant.
• 3,800 s/f of office space at 2 North Avenue, Cranford by Praesum from 2 North Avenue, LLC. William Sitar Jr. and Douglas Sitar represented the landlord and Joseph Allegro and Leslie Wulach represented the tenant.
WilliamSitarjr• 3,720 s/f of retail space at 771 Hamburg Turnpike, Wayne from Ramapo Plaza Associates, LLC to CKO North, LLC. Giorgio Vasilis represented the tenant.

Jill Arias
Jill Arias

• 5,400 s/f of office space at 150 Bayway Avenue, Elizabeth from Preferred Freezer of Elizabeth to P & S Transportation. William Sitar Jr. and David MacDowell represented the landlord.
• 2,700 s/f of retail space 5313 Route 9 North, Howell from AAM Mills LLC to T-Mobile. Giorgio Vasilis represented the landlord.
• 2,070 s/f of retail space 5313 Route 9 North, Howell from AAM Mills LLC to Firehouse Subs. Giorgio Vasilis represented both the landlord and the tenant.

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The Berger Organization announced that 570 Broad Street in Newark is nearing full occupancy. Less than four years ago, when Berger acquired a controlling interest in 570 Broad Street, LLC, the property’s ownership, the building was just 20 percent leased.
• Lite DePalma Greenberg signed a 10,000 s/f long-term commitment. Raymond Trevisan of DTZ represented the law firm in its lease.

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National Realty & Development Corp. (NRDC) announced that Lex Terrae Inc., a subsidiary of Old Republic Title Company, has signed a long-term lease at its 95,000 square foot Baker Waterfront Plaza property in Hoboken, NJ. Lex Terrae Inc. will consolidate its existing NYC and Hoboken office and will be occupying 13,519 s/f on the entire 5th floor of the building. Brian F. Sekel and Richard A. Kaufman represented NRDC. Frank Truesdel and Jill Arias of DTZ represented the tenant.

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The Hampshire Companies announced that PetSmart has leased 7,200 s/f of retail space at Veterans Square Town Center located in Lyndhurst. Veterans Square Town Center is situated on 12.31 acres on New York Avenue in Lyndhurst, NJ. The 144,400 s/f retail center boasts tenants such as Shop Rite Supermarket, HomeGoods, GNC and Supercuts. Currently about 10,000 s/f of space remains. The Petsmart deal was brokered by the Crossroads Company, who manages the shopping center and represented Hampshire in the transaction. Metro Commercial Real Estate represented Petsmart.

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NAI Hanson announced that it has facilitated the lease of 22,203 s/f at 60 Saddle River Avenue in South Hackensack. Jeff DeMagistris, SIOR and Tom Vetter, SIOR, marketed the space and managed the transaction on behalf of the industrial property’s owner, Safer Development and Management, Inc. The new tenant, periodicals distributor Publishers Circulation Fulfillment, Inc., leased the space.

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Mack-Cali Realty Corporation (NYSE: CLI) and its joint venture partner, The Praedium Group, announced that global transportation company Yang Ming Marine Transport Corporation signed a new lease for 19,306 s/f at One Newark Center in Newark. Yang Ming was represented in the transaction by Frank Recine of Newmark Grubb Knight Frank. Mack-Cali and The Praedium Group were represented by Jonathan Meisel, Chris Conklin, and Isabel Freire, all of Jones Lang LaSalle, exclusive leasing agents for the property.

 

CONNECTICUT

Larry Kwiat
Larry Kwiat

Franco Fellah, executive vice president at HK Group, announced transactions totaling 12,076 s/f:
• Glastonbury-based United Bank leased 6,590 s/f of office at 55 Greens Farms Road Westport: the Fairfield County expansion is led by Maureen Hanley-Bellitto.
• Eyeglasses.com, a high-end optical shop, leased 2,555 s/f of retail space at Blue Back Square Shopping Center, West Hartford, CT.
• Francois DuPont Jewelers leased 800 s/f of retail space at Sconset Square Shopping Center, Westport.
• XT Capital Partners of NYC, a financial company, leased 500 s/f of office at 311 Post Road East, Westport.
• CueScript, Inc. leased 1,631 s/f of office at 1525 Kings Highway East, Fairfield, CT. The company produces tele-prompters that are used throughout the world.
Reckson, a Division of SL Green Realty Corp. announced the following:
• The Bank Street Group LLC, leased 7,807 s/f at 4 Landmark Square, Stamford. The landlord was represented by Larry Kwiat, Senior Vice President
• Newmark of Connecticut, LLC, leased 10,634 s/f at 680 Washington Boulevard, Stamford. James Ritman, of Newmark Grubb Knight Frank, represented the tenant. The landlord was represented by Clark Briffel, Vice President

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Avison Young announced the completion of a new 15,000 s/f long-term lease at Cambridge Hanover’s 100 Trap Falls Road in

Sean Cahill
Sean Cahill

Shelton, CT with Microphase Corporation, a radio frequency and microwave filter manufacturer. Sean Cahill, Avison Young Principal and Managing Director of the firm’s Fairfield/Westchester office, and Senior Vice-President William Anson represented Cambridge Hanover in the transaction, while Roger Ludwig of Pyramid Real Estate Group represented the tenant. Microphase is scheduled to take occupancy of its new space in March.

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