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Deals & Dealmakers

Leases: Rail Europe moving to 333 Westchester Avenue, NY Kids Club signs lease at 401 East 55th

NEW YORK

Office leasing momentum continues to build at owner/developer Charles S. Cohen’s 333 Westchester Avenue, the distinctive 500,000 square foot Class A corporate office campus.

On the heels of Reis, Inc.’s recent expansion that brought its total footage to over 50,000 square feet, Mr. Cohen has announced that Rail Europe will soon be moving its headquarters from downtown White Plains to 333 Westchester Avenue.

The company, the North American distributor of train tickets and products for over 50 European railroads, has leased approximately 14,000 square feet comprising a portion of the second floor in the West Building of the office park. It expects to relocate to its new offices later in the 3rd quarter of this year.

Craig Lemle, Jon Azulay and Robert Sevim of Savills Studley represented Rail Europe in the 11-year leasing transaction while Marc Horowitz, Senior Vice President and National Director of Office Leasing for Cohen Brothers Realty Corporation,  represented the landlord. Asking rent for the space was $26 per square foot.

Anchored by four interconnected mid-rise office buildings surrounded by lush landscaped gardens and courtyards, the complex’s spectacular  on-site amenities include a 15,000 square foot, freestanding, state-of-the-art fitness center with exercise equipment, personal trainers and a half-basketball court; over 2,000 parking spaces; Bistro 333, a lavish catering and business eatery; a conference center with meeting space for 200; and free shuttle service for tenants to and from the train station.

Convenient to Westchester’s fine transportation network, the site is an easy 35-minute drive into Midtown Manhattan, within minutes of Westchester County Airport and world-class shopping in downtown White Plains.

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Isa Realty Group announced that NY Kids Club has leased 3,800 s/f of space at  401 East 55th Street. Landlord, Plaza 400 Owners Corp. was represented by Louis Franco and Joseph Isa of  Isa Realty Group. The tenant was represented by Andrew Stern and Gary Alterman of  Robert K Futterman. Asking rent for the space, formetly occupied by M&T Bank, was $80 psf.

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The Kaufman Organization (Kaufman) recently announced that the company secured a full-floor lease, totaling 5,418 square feet at 19 West 24th Street (19W24). Kaufman’s Madison Square Portfolio property offers Blue Ocean Brokerage with the optimal facility and location to support the company’s growth.

Blue Ocean Brokerage recently signed a ten-year, 5,418-square-foot lease for a fifth floor space at 19W24. The company was founded in New York City with subsidiaries in Omaha, Nebraska and Houston, Texas. Its roster of energy products include but are not limited to aromatics, petroleum, biodiesel, and methanol. Kaufman’s Michael Heaner and Elliot Warren represented landlord, 19 West 24th LLC in the transaction.

Asking rents for the space was in the mid-$60’s for the transaction. Brian Feist and Larry Carroll of Cushman & Wakefield represented Blue Ocean Brokerage. The move is scheduled for Q2 2016.

Blue Ocean Brokerage joins notable tenants at the property, including AiCure, IPONWEB, Wilson Daniels Wholesale and celebrity chef, Jared Sippel, and his restaurant – Italienne – which occupies the ground level.

19W24 is nearly fully-leased, with only two floors remaining. As a result, Kaufman expects tenants to turn to 15 West 27th Street (15W27), another Madison Square Portfolio property with similar open spaces outfitted with top-of-the-line amenities. 19W24 is close by to numerous publication transportation options including the F, M, N, and R lines and the PATH train.

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ABS Partners announced the following:

  • Stephanie Goto, a boutique architecture and design firm, signed a 1,519-SF lease at 19 Union Square West. The company will relocate to the building’s penthouse, which features outdoor space, from One USQ West in September 2016.

Charles Conwell and Jay Kreisberg of ABS Partners Real Estate represented the landlord, 17-19 Associates LLC., in the transaction. Asking rent in the deal was $85 per square foot, significantly above the Midtown South average reported in Q1.

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Bluestar Properties, Inc. is pleased to announce that Opportunity Charter School has signed a long-term lease for approximately 2,600 square feet of community facility space located at 315 West 113th Street, New York, NY.

The new space will be utilized as an ancillary educational and learning center. Opportunity Charter School which was founded in 2004 was created to meet the growing educational needs of the Harlem community. Since its inception, Opportunity Charter School has been a model institution for providing innovative academic programming for both special needs and general education students, including those at risk of academic failure. Joshua Kaufman of Bluestar Properties, Inc. represented both the Landlord and the Tenant in this transaction.

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The brokers at EVO Real Estate are celebrating the start of spring with the announcement of 10 Manhattan transactions negotiated by the firm. Among them is a lease for NAI Global, the network of owner-operated commercial real estate firms, of which EVO is a member. The largest transactions include the following:

Barry Bernstein and Mitchell Cooperstock represented both the landlord and Silver Buffalo LLC, a leading brand and lifestyle company, in the latter’s lease of 6,400 square feet at 141 West 36th Street.

Robert Rosenberg and Ira Z. Fishman, EVO’s CEO, represented 228 East 45th Street in its lease of 5,611 square feet to LBI Media Holdings, the largest privately held, Spanish-language broadcaster in the United States. Brett Zelner of Lee & Associates represented the tenant.

Howard Epstein and Mr. Bernstein represented “H” Architecture, PC and “H” Associates Inc. in their renewal of 3,650 square feet at 307 5th Avenue. David Menaged of Intrepid Real Estate Group represented the landlord.

Mr. Bernstein and Mr. Cooperstock represented both the landlord and SG Corporation, an apparel and fashion company, in the latter’s renewal of 3,200 square feet at 141 West 36th Street.

Mr. Fishman and Dana Moskowitz, EVO’s president, represented NAI Global in its lease of 1,433 square feet at 237 West 35th Street. Michael Kaufman of the Kaufman Organization represented the landlord.

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  1. Weiss Realty Corp., the family owned, Melville-based developer, manager and owner of Class-A commercial office buildings, announced that ERT Design Group, an architectural and interior design firm, has leased 1,215 square feet at Melville Corporate Center I.
    ERT, which specializes in hospitality design, will occupy space at 105 Maxess Road, Melville, in June. Elizabeth Torres, previously an architect at TPG Architecture, established ERT in 2008 and last year grew to a fully staffed office in Melville.

Robert Brennan, of Ripco Real Estate Corp., represented ERT in the transaction. Craig Weiss represented the landlord in-house.

NEW JERSEY

R.J. Brunelli & Co announced the completion of a series of leases that will introduce national retailers, automotive services, dental professionals and other services to sites in New Jersey.  In its capacity as Dollar Tree’s exclusive real estate representative for all of New Jersey, the Old Bridge-based firm brokered leases that will bring the nation’s largest single-price-point retailer to locations in Greenbrook, Little Egg Harbor and Willingboro, with all three brokered by R.J. Brunelli President/Principal Danielle Brunelli-Albrecht.

Dollar Tree signed the following leases:

  • A 10,000-square-foot endcap location at Arthurs Plaza in Greenbrook. A 10,191-square-foot inline space at Great Bay Plaza in Little Egg Harbor. 12,000 square feet of inline space that was previously part of a former ShopRite store at Willingboro’s Kennedy Plaza.  As exclusive tenant representative for Sally Beauty, R.J. Brunelli completed the following deals:
  • A 1,959-square-foot-former Radio Shack space at the Blue Star Shopping Center on Route 22 in Watchung.
  • In Hunterdon, a 1,600-square-foot-inline space at Walmart Plaza in Clinton.

As exclusive Northeast leasing representative for AAMCO, R.J. Brunelli brokered the following:

  • A lease for a 6,840 square-foot freestanding building at 10 Witmer Rd. in Lancaster, Penn. The deal was brokered by sales associate Patti Fiore, who serves as the firm’s AAMCO account manager.
  • As agent for The Max Challenge R.J. Brunelli brokered a lease to bring the New Jersey-based chain of fitness centers to its first location in the state. A local franchisee signed a lease for a 3,600 s/f space in the Route 1 Market Place in Fairless Hills. R.J. Brunelli account manager Joseph Amecangelo represented The Max Challenge.
  • Back in New Jersey’s Monmouth County, R.J. Brunelli represented The Salon Professional Academy as preferred broker for its second New Jersey location at Howell Commons in Howell. A Redkin Business Resource, the national beauty school franchise will open in a 5,411-square-foot endcap space that previously housed an Ann Taylor store. The 270,000-square-foot center, located at Rte. 9 and Lanes Mill Rd., is anchored by Kohl’s, TJ Maxx, Pier 1, and Famous Footwear. The deal was brokered by Ms. Brunelli-Albrecht on behalf of the chain’s franchisee.
  • In Passaic County, R.J. Brunelli represented Eastern Dental, a full-service family dental office with 23 locations across the state and in Michigan, on a deal for a 6,000-square-foot endcap unit at Corrado’s Shopping Center on Getty Ave. in Clifton. Sales associate Alan Gott brokered the deal on behalf of Eastern Dental, which expects to open at the site in March 2017.

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McAlister’s Deli recently celebrated its official opening at The Shoppes at the Livingston Circle, located at 277 Eisenhower Parkway in Livingston.

The restaurant, which occupies approximately 3,000 square feet at the 93,000-square-foot shopping center managed and developed by Eastman Companies, marks the fast-casual chain’s first location in New Jersey. The transaction was negotiated by David Perlmutter of Perlmutter Properties for Eastman Companies. Jay Miller of CBRE/FAMECO of New Jersey represented the tenant.

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Employment law firm Deutsch Atkins P.C. has renewed its 9,000-square-foot lease at Court Plaza North, located at 25 Main Street in Hackensack. The Court Plaza office complex is owned and managed by Alfred Sanzari Enterprises.

The transaction was negotiated in-house by Stephen C. Jennings of Alfred Sanzari Enterprises. Edward DiTroia of RE/MAX Elite Associates represented the tenant.

Deutsch Atkins P.C. is one of the largest and most highly regarded employee rights law firms in New York and New Jersey. The firm’s senior partners, Neil H. Deutsch and Bruce L. Atkins, each have more than 30 years of employment and discrimination law experience. Deutsch Atkins P.C. has been a Court Plaza tenant since 2006.

The 335,000-square-foot Court Plaza office complex encompasses Court Plaza North, Court Plaza South and Court Plaza East. Tenants enjoy a landscaped plaza with fountains and seating areas, covered parking, a full-service bank, shoe shine/repair and dry cleaning services, eco-friendly car wash service, a fitness center, public transportation to New York City and Northern N.J., a cafeteria with indoor and outdoor seating, and a common meeting room. Court Plaza is just one mile from Routes 4, 17, and I-80.

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Bussel Realty Corp. (BRC) announced Jersey Wholesale Tire Corp has leased 23,622 square feet at 140 Spring Street in New Providence, New Jersey, a 67,584-square-foot industrial building.  BRC Senior Vice President David Blitt and Vice President David Posner represented the owner, Mandelbaum & Mandelbaum.  Joe Bonaikowski of Bonaikowski Real Estate represented Jersey Wholesale Tire Corp.

Available through BRC is an additional unit of 22,500 square feet at 140 Spring Street, which is one mile from I-78 and a half mile from the New Jersey Transit train station located in Murray Hill.  The unit offers 3,000 square feet of office space, 18-foot ceiling heights, two-tailboard and one drive-in loading, heavy power, and over 75-car parking.   It is located only 10 miles from Port Newark and Newark Liberty International Airport.

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Breakfast and lunch restaurant chain Le Peep will soon join the tenant mix at Capitol Plaza in Ewing.

The Colorado-based fast-casual chain has leased 2,700 s/f  at the  Mercer County shopping destination, according to Levin Management, exclusive leasing and managing agent for the 360,000-square-foot center. Levin’s leasing representative Gloria Mercado negotiated the long-term lease.

Founded in Denver, Le Peep has expanded to more than 50 locations in 14 states. Available retail spaces range from 2,200 square feet to 9,600 square feet at Capitol Plaza.

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NAI Mertz announced the completion of a 2,700-square-foot lease at 1000 Crawford Place in Mount Laurel, New Jersey, to Garg Consulting Services (GCS), a multi-disciplinary engineering firm. This lease brings the building to100 percent occupancy.

NAI Mertz’s Rebecca Ting, SIOR, vice president, and Julie Kronfeld, SIOR, sales associate, serve as exclusive leasing agents for the property and represented both the building owner, Femast Management LLC,and GCS in this transaction.

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Nest Seekers International, a full-service brokerage firm with offices in New York, South Florida and Los Angeles, announced the launch of its Jersey City and Hoboken offices. Slated to open on May 15, the new offices will be headed by Gilli Axel and Marc Brenner, real estate industry veterans with 20 years of combined experience working as real estate agents and principal developers in New Jersey.

The first loft-like storefront showroom will be located in the heart of Jersey City’s thriving WALDO District and will house 35 to 40 agents. These agents will capitalize on Nest Seekers’ global positioning and marketing expertise to effectively serve the higher end of the New Jersey market and a number of new development projects in the region. Details will be released in the coming months.

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Financial institution Lakeland Bank has renewed its 3,200-square-foot office lease at Court Plaza North, located at 25 Main Street in Hackensack. Court Plaza North is part of the three-building Court Plaza office complex, owned and developed by Alfred Sanzari Enterprises.The transaction was negotiated in-house by Stephen C. Jennings, Alfred Sanzari Enterprises’ vice-president of leasing and marketing.

CONNECTICUT

Lester Fradkoff, Senior Vice President of Southport-based Angel Commercial, L.L.C., announces the lease of 6,000 square feet of retail space located at 517-519 Boston Post Road in Orange, Connecticut, to U.S. Furniture, owners of City Furniture Home Décor in Stamford, CT. The company opened their first store in Stamford in 2014 and plans to open their new location within the next few months.

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Michael Muffoletto, President of The Brocor Group, has arranged a five-year lease of 2,000 s/f at 1055 Summer St Stamford, Ct for United Security, Inc. which provides fire & safety and monitoring for commercial buildings in the tri state area and armed security guards.  Muffoletto represented both tenant and landlord.

 

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