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Deals & Dealmakers

LEASES: The latest leases signed in the tri-state area

NEW YORK

Adams & Co. Real Estate completed a 2,400-square-foot new lease for Apparel Partnership Group at the Contemporary Fashion Center. The boutique fashion company will utilize the sixth-floor space in the building, located at 231 West 39th Street, as an office and showroom. James Buslik and Jeff Buslik represented the tenant and the landlord, 231/249 West 39 Street Associates. Asking rent was $49 per square foot. 231 West 39th Street is home to over 400 different fashion lines. Notable tenants include Hudson Jeans, Shoshanna, Milly, Autumn Cashmere and Joe’s Jeans.

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Grant Greenspan announced that , on behlaf of MJ Orbach Associates, The Kaufman Organization has signed six new leases within the last 30 days at 27 West 24th Street (27W24), totaling over 15,000 square feet of space. Of the six leases, four of the transactions are for international design tenants looking for showroom space that will attract talent and establish brand identity within the heart of Flatiron.
The four international design companies together take up 6,749 square feet of space and are relocating to build-out showroom spaces that will allow them to showcase a variety of products and attract high-quality talent in one of the most desirable neighborhoods.

• Scandinavian Spaces, a high-end Swedish commercial interior design company with an emphasis on social responsibility, signed a five-year approximately 1,300-square-foot lease for the company’s NYC showroom. Eric Shifflett of LSLNY represented the tenant.

• Bolon, a third-generation Swedish flooring company that draws inspiration from fashion, signed a five-year, 2,850-square-foot lease. The company will use the space as its NYC headquarters, showroom and sales office. Amenities include a brand-new wet pantry, residential style Kitchen Island and 15 feet of recessed glass entry doors – enhancing the customer experience. Matthew Steer of Keller Williams represented the tenant.

• Johnston’s of Elgin, a two-century old Heritage Cashmere brand based out of Scotland, signed a four-year, approximately 1,290-square-foot lease. This will serve as the company’s showroom and first foray into the NYC market. Stephen Stephanou of Crown Retail Services represented the tenant.
• Institchu, a bespoke Australian menswear company, signed a five-year, approximately 1,293-square-foot lease for the company’s only NYC showroom. John Brasier of Colliers International represented the tenant.

In addition, 27W24 has also leased over 8,500-square-feet of office space within the last 30 days for the two digital and creative businesses below:

• Stash Invest, a digital investment company that is breaking the mold of traditional finance, expanded its presence at the building with a four-year, 5,788 s/f lease – having initially moved into a 4,464-square-foot space. This serves as the company’s New York City headquarters.

• Incandescent Inc., an industry-leading creative consulting agency, signed a 25-month, approximately 4,119-square-foot lease. Currently subleasing at the building, the company has chosen to take out a new lease directly with building.

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Milbrook Properties, Ltd. announced the following leases:

• A 10 year lease agreement for 1,150 square feet with Edible Arrangements in its shopping center in Lake Ronkonkoma, Long Island. Other tenants of this center include Pet Supplies Plus, GNC, Chase Bank, Wells Fargo Bank and Boston Market. The deal was co-brokered with CBRE.

• A lease agreement with State Farm Insurance in its center in Hauppague, NY. A 2-year lease was negotiated for the 1,126 square foot space. Other tenants of this center include The Grill Room, Dunking Donuts, Blimpies and Sexy Salad.

• A 5-year lease for 2,027 square feet in its shopping center in Bayshore, Long Island. This agreement was reached with Hand and Stone Massage and Facial Spa. Other tenants of this center include Stop N Shop Supermarket, Chase Bank, Weight Watchers, Retro Fitness, Bagel Boss, Huntington Learning Center, Rent A Center, Bethpage Credit Union. The deal was co-brokered with Ripco Real Estate.

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Skyline Developers, the New York affiliate of Garden Homes Development, has signed a 10-year lease with Henricksen to occupy the entire 22nd floor of its 24-story office building at 1040 Avenue of the Americas. Henricksen is a leading contract furniture dealership with annual sales in excess of $227 million. They have leased an 8,282 s/f space for a “living lab” that functions both as Henricksen’s office and a pilot space to demonstrate how furniture responds to the changing nature of work in an actual working environment. They join office tenants including Update Legal, Ladas & Parry, DHI Group, Up Entertainment and Outdoor Sportsman Group. Retail tenants in the building include Starbucks and Valley National Bank. Skyline recently completed a multi-million-dollar renovation of the lobby and storefront.Skyline Developers was represented by William Cohen, Andrew Weisz and JD Cohen of Newmark Grubb Knight Frank, the exclusive leasing agent for 1040 Avenue of the Americas. Henricksen was represented by Giorgio Versea and Steve Schneider of Cushman & Wakefield.

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Gary Pezza of NAI Long Island represented the landlord and tenant regarding 890 Conklin Street in Farmingdale, NY. This property was a vacant gas station that will be transformed into a used car lot, operated by Autorama Sales Inc. of Wantagh, the tenant in this transaction. Along with office and prep space, this location will have the capacity to hold inventory of approximately 50 vehicles.

NEW JERSEY

The partnership of Advance Realty and CrossHarbor Capital Partners, LLC announced that biotechnology company Clinical Genomics has signed a 16,201 s/f lease at the New Jersey Center of Excellence (NJCOE) in Bridgewater, New Jersey. The lease is an expansion for Clinical Genomics, which has been a tenant at NJCOE since 2015. The organization, which develops products for colorectal cancer diagnosis and monitoring, is one of many innovative life sciences companies that occupy the campus, which Advance and CrossHarbor acquired in 2014 when global pharmaceutical company Sanofi relocated its research and development arm to the Boston area. Clinical Genomics was represented in the transaction by Mary Franzwa Ryan of Franzwa Real Estate Advisors, LLC, while Advance was represented by Director of Asset Management Barry Quiner and a JLL team of Daniel Loughlin, Robert Ryan, Craig Eisenhardt and Scott Stange.

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Bussel Realty Corp. (BRC) announced Champion Pool Distributors has leased 93,702 s/f of industrial space at 51 Saw Mill Pond Road in Edison, New Jersey. Robert Sager, senior vice president of BRC, and David Blitt, senior vice president of BRC, represented Champion Pool Distributors in the transaction. The property was represented in-house by the owner, Heller Industrial Parks. Totaling 250,272 s/f on 55 acres, 51 Saw Mill Pond Road is located near I-287 and the New Jersey Turnpike in Heller Park in Edison, New Jersey. The property features 36 to 38-foot high ceiling heights, 50 tailboards and 1 drive-in loading, 48-foot by 48-foot column spacing, wet sprinklers and parking.

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NAI James E. Hanson has negotiated a 70,200 s/f industrial lease at 103 Bilby Road in Hackettstown, N.J. NAI Hanson’s Barry Cohorsky, SIOR, and James Kenah represented the landlord, Compac Corp DBA Trimas Corporation, in the lease renewal transaction to Logical Warehousing, LLC. The tenant was represented by Steve Sander of CBRE. 103 Bilby Road is a 182,000 s/f warehouse/flex property that includes 23,571 s/f of office space, seven loading docks and 139 parking spaces. Located seven miles from Interstate 80, the industrial space provides access to customers throughout New Jersey, Pennsylvania and New York.

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A Popeyes Louisiana Kitchen franchisee has leased 2,000 square feet at Twin City Shopping Center in Jersey City, becoming the latest dining tenant to join the retail mix at this Hudson County shopping destination. Levin Management Corporation (LMC), exclusive leasing and managing agent for the 94,000-square-foot, grocery-anchored property, orchestrated the long-term lease. E.J. Moawad, is LMC’s leasing representative for Twin City Shopping Center.

CONNECTICUT

Litigation law firm Ryan Ryan Deluca LLP (RRD) will expand its Fairfield County presence with a new office at 1000 Lafayette Blvd. in Bridgeport, announced Colliers International Group Inc. At the same time, the 50-year-old practice has renewed its long-time headquarters lease at 707 Summer St. in Stamford. Colliers’ Executive Managing Director | Market Leader Jeffrey Williams serves as RRD’s exclusive real estate advisor with Associate Hollis Pugh out of the global commercial real estate services firm’s Stamford office.

• In Bridgeport, RRD leased 12,351 square feet at 1000 Lafayette Blvd. Shelbourne Lafayette LLC owns the property and was represented by Penny Wickey of Saugatuck Commercial Real Estate.

• At 707 Summer St. in Stamford, RRD re-committed to 9,586 square feet at the Albert Ashforth Inc.-owned property. George Walker from JLL served as the landlord’s broker.

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