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Deals & Dealmakers Leases

LEASES: Besen Partners announces that Tripod Design NY, Inc. has leased 2,000 s/f of office space at Chelsea Arts Towers

NEW YORK

CAROLINE PARDO

TerraCRG announced that Forte Construction, a subway contractor, has leased 1,650 s/f of office space at 105 Court Street in Downtown Brooklyn. Chris Havens and Caroline Pardo of the TerraCRG office leasing division represented the landlord, Chanin Court Associates. Asking rent was $50 psf. Forte is currently building the new elevator to the Borough Hall Station and will put its project engineers in the space. The tenant was represented by Ted Spiegel of Spiegel Associates.

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HILLY SOLEIMAN

Besen Partners announced that Tripod Design NY, Inc. leased 2,000 s/f of office space at Chelsea Arts Towers, a 20-story commercial condominium at 545 West 25th Street in Chelsea. The tenant, the New York satellite of a Japanese design firm, will occupy space on the sixth floor. Hilly Soleiman and Matthew Mager represented the condominium unit owner, Demetri Daphnis/The Nassos Daphnis Family 2000 Trust, in the transaction. The tenant was represented by Namiko Sako of Sumitomo Real Estate Sales, Inc. Asking rent was $13,000 per month and the firm will be relocating from 350 East 52nd Street in late January.

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The Cresa advisory team of Thomas Sullivan, David Danick and Elisa Tsai has arranged the first Manhattan office for New Land Capital, LLC at One Grand Central Place, aka 60 East 42nd Street. The real estate private equity fund leased a 4,500 s/f office on the 21st floor of the building. Currently headquartered in Flushing, Queens, New Land Capital also maintains a fully staffed satellite office in Beijing. Julie M. Christiano and Leslie Nadel of ESRT, along with Jamie Jacobs, William G. Cohen and Brittany Silver of Newmark Knight Frank represented the landlord in the seven-year lease. Asking rent was $63 psf.

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LARRY REIFF

Greiner-Maltz announced that Respect Auto Group has signed a NNN lease for a single-story warehouse at 35-01 Northern Boulevard in Long Island City. The property is comprised of approximately 28,000 s/f, which includes a 10,000 s/f showroom and 8,000 s/f of warehouse space. Larry Reiff of Greiner-Maltz represented the landlord. East Shire 35-01 Realty LLC. Luca DiCiero represented the tenant.

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Interrelate Group LLC arranged a new 10,577 s/f lease for the Young Women’s Christian Association Retirement Fund, Inc (YWCARF) at 55 Broadway, a boutique 32-story, 358,000 s/f Class A office building located in the Financial District. The YWCARD is one of the oldest pension plans in the country as well as the first pension fund for women, and predates Social Security. Interrelate Group CEO Thomas Kaufman and Senior Vice President Jeremy Dukes represented the tenant. Brad Gerla and Jonathan Cope of CBRE represented the property owner. YWCARF, a not for profit, signed the new 15-year lease for the full 17th floor, moving from midtown.

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In a series of separate transactions at 55 Broad Street, The Rudin Family announced that three tenants have signed new leases totaling 19,579 s/f at the 30-story, 425,000s/f downtown property. Building ownership was represented by Kevin Daly at Rudin Management Company in all three transactions:

LANCE LEIGHTON

• Paris-based engineering consultant SYSTRA Consulting completed a 10-year, 14,295 s/f lease on a portion of the 5th floor. The firm will move its U.S. headquarters from 520 Eighth Avenue to 55 Broad Street in spring 2020. SYSTRA Consulting, Inc. was represented by Lance Leighton, Evan Margolin, and Charles Goldman of Savills.

• Law firm Schpoont & Cavallo LLP leased 3,672 s/f on the 18th floor. The law firm, which specializes in matrimonial and family law, expects to move from 101 Greenwich Street to the building in spring 2020, Schpoont & Cavallo, LLP was represented by Michael Hennessy oPark Avenue International Partners.

• Nonprofit organization Squash and Education Alliance (SEA) leased 1,612 s/f on the 14th floor for a pre-built suite. SEA took occupancy in November 2019. Squash and Education Alliance was represented by Peter Cipriano of Savills.

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Simone Development Companies and Fareri Associates announce the signing of eight new leases and expansions totaling more than 27,000 s/f at the firms’ Purchase Professional Park in Purchase, NY. Matthew Lisk, senior director in the White Plains office of Cushman & Wakefield, lead the leasing team representing the owners. Among the new tenants coming to Purchase Professional Park are:

• Armonk Integrative Medicine, PLLC entered into a long-term lease of 5,182 s/f of medical office space on the fourth floor of 3010 Westchester Avenue. Roy Katter of Katter Property Company, Inc. represented the tenant in the relocation.

• Westpark Group Inc. leased 8,325 s/f on the third floor of 3010 Westchester Avenue in a long-term deal arranged by Michael and Kevin McCarthy of Cushman & Wakefield on behalf of the owners and Matthew Lisk, also of Cushman & Wakefield, on the tenant side.

• Darby Financial, signed a new lease for 1,742 s/f at 3000 Westchester Avenue, represented by Michael McCall of CBRE.

• KM Capital leased 1,525 s/f on the second floor of 3010 Westchester Avenue, represented by Houlihan Lawrence. Cushman & Wakefield represented the owners in the deal.

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Simone Development Companies leased 20,000 s/f of medical office space to Mount Sinai Health System which will open Mount Sinai Doctors Westchester at 331 Central Park Avenue in Scarsdale, NY. Occupancy is planned for the summer of 2020. Simone acquired the 25,000 s/f one-story property, formerly the home of Klaff’s Home Design Store, in July of last year. Charles Schwab will continue to occupy 5,000 s/f at the property.

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PAUL WOLF

Denham Wolf Real Estate Services (Denham Wolf), Avison Young, and their clients announced that The Harry Frank Guggenheim Foundation will relocate its headquarters to Tower 45 at 120 West 45th Street. Recently renovated and located in Midtown Manhattan, the Foundation’s new offices will provide its staff and partners with dedicated, high-quality facilities and expanded amenities. The Foundation has signed a 12-year lease for 5,787 s/f of turnkey space on the 25th floor of 120 West 45th Street. It will relocate from 42 West 54th Street the summer of 2020. The Harry Frank Guggenheim Foundation was represented by Paul G. Wolf, Christopher D. Turner and Avery Hogue of Denham Wolf. The building owner, Kamber Management Company, was represented by an Avison Young team including Arthur J. Mirante IIMitti LiebersohnJohn Ryan III and Albert Wu.

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ED GOTTLIEB

Schuckman Realty has leased the former gas station at the corner of Spiegelhagen Street and Wellwood Avenue in North Lindenhurst, NY to N.Y. Connections, Inc. which will open a Verizon store in the space. Edward Gottlieb of Schuckman Realty Inc. represented the landlord in a 5-year lease, plus options for approximately 1,800 s/f. The tenant, N.Y. Connections, Inc. was represented by Jeanine Kemm of Royal Properties. The formerly vacant gas station at 624 North Wellwood Ave is located at the Corner of Sunrise Plaza Shopping Center.

NEW JERSEY

PETER BROSNICK

SJP Properties announced that enterprise IT and cloud services provider Oracle has signed a long-term lease for 17,000 s/f at Somerset Corporate Center 100 in Bridgewater, New Jersey. SJP Project Solutions, SJP’s third-party construction management division, will oversee the build-out of the 3rd-floor office, which will house Oracle’s local executive team. Oracle will occupy its new space in the first quarter of 2020, from which its local team will provide sales, consulting, education and support to regional customers. James Scancarella of Cresa represented Oracle in the lease transaction, while SJP was represented by Peter Bronsnick and SJP Development analyst Laura Paridy.

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Denholtz Properties announced that RENEX NY has signed a lease for 9,000 S/F of industrial/ flex space at the Edgeboro Corporate Center at 12-16 Edgeboro Road in East Brunswick. Kristine B. Hurlbut, Senior Vice President of Leasing at Denholtz Properties, made the announcement. David Zimmel of Zimmel Associates represented Denholtz Properties in the transaction.

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NAI James E. Hanson negotiated a 3,005 s/f lease expansion at Elmwood Park Plaza at 475 Market Street in Elmwood Park,. Randy Horning and Darren Lizzack represented the tenant, Peck Brothers LLC, in the transaction with the landlord, Alfred Sanzari Enterprises. One of the fastest growing professional roofing and sheet metal contractors in the northeast, Peck Brothers originally leased 4,970 s/f for their new headquarters at Elmwood Park Plaza in 2018. The firm’s substantial growth over the last year necessitated a larger footprint. Due to 475 Market Street’s proximity to Peck Brothers’ warehousing and distribution location, the business chose to expand their current office at the property.

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FRANK RECINE

The S.Hekemian Group announced that Beattie Padovano LLC has leased 20,000 s/f of space at North Market, a mixed-use urban district on Mercedes Drive in Montvale. The law firm will occupy space at Workplace North Market. The S.Hekemian Group was represented by Frank D. Recine, executive managing director at JLL. Beattie Padovano was represented in house. Workplace North market is a soon-to-be-constructed office building. Beattie Padovano signed a 12-year lease for 20,000 s/f and will occupy the entire fourth floor and a portion of the third floor of Workplace North Market, which is located between West Grand Avenue and Philips Parkway in Montvale. The law firm is relocating to the building from nearby 50 Chestnut Ridge Road in Montvale. Workplace North Market is new project launched by The S.Hekemian Group on the sites of the former North American headquarters for Mercedes-Benz USA and historic DePiero Farm in Montvale. The under construction, mixed-use development is located just off Exit 172 of the Garden State Parkway.

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CBRE announced that Solix, Inc., a business process outsourcing firm, inked a 31,442 s/f office lease at 10 Lanidex Plaza West in Parsippany, The firm will occupy a part of the second and entire third floors of the 75,049 s/f office building owned by Lincoln Property Company. CBRE’s Thomas M. Mallaney and Denise Kokulak negotiated the 12-year lease on behalf of Solix, Inc. In addition to the lease negotiations, CBRE was also tapped as project manager for the buildout of Solix’s new office space. Megan Cudia of CBRE’s Project Management team will oversee the assignment.

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Levin Management Corporation announced the following leases:

• Portuguese-inspired barbecue concept Pork Chop’s BBQ leased a new 2,700 s/f restaurant at Capitol Plaza in Ewing. Levin Management Corporation (LMC) serves as exclusive leasing and managing agent for the 355,000 s/f property. Andrea KyriacouLMC’s senior leasing representative for the center, arranged the lease.

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SIDNEY SINGER

A Slice of Brooklyn, specializing in high-quality Italian food and wood-fired pizza in a contemporary setting, committed to 2,400 s/f at the 175,500 s/f Hamilton Plaza retail property. LMC Senior Leasing Representative Sidney Singer arranged the lease.

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L+M Development Partners, Prudential Financial and Goldman Sachs Urban Investment Group (UIG) announced that award-winning craft ramen and Japanese Izakaya restaurant group, Ani Ramen House, has signed a 10-year lease for approximately 8,700 s/f on the first floor of the Hahne & Co. building on Halsey Street in downtown Newark. The new space – Ani’s largest yet – will include a restaurant, the company’s first commissary kitchen and corporate offices. Pierson Commercial Real Estate represented the landlord and tenant in the deal. The Hahne & Co. space will be Ani’s sixth location and serve as the company’s headquarters, where chefs will prepare food for the other Ani outposts in Montclair, Jersey City, Summit and Maplewood.

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