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Deals & Dealmakers

LEASES: Three more tenants at 1WTC; NAI James E. Hanson brokers Jersey rubber lease

NEW YORK

ATCO Properties & Management announced that Fuze, Inc., a cloud-based communications solution provider, will relocate to 381 Park Avenue South. The firm has signed a five-year 5,844 s/f lease comprising a portion of the 14th floor at the building, which is located at the southeast corner of East 27th Street. Fuze Inc. expects to move from 127 West 26th Street to the building in summer 2018. Other tenants in the building include Superfly Productions. John Cionsky, President of ATCO Brokerage Services, along with Peter Goldich, Senior Managing Director of ATCO Brokerage Services, represented the landlord in the transaction. Jared London of CBRE represented Fuze Inc. Asking rents were $65 per square foot.

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The CPEX Real Estate Office Sales & Leasing Team has completed a lease agreement to relocate New York City Explorers, a Brooklyn-based child care collective, to Fort Greene. New York City Explorers will occupy a total of 3,410 s/f across the ground floor and lower level at 36 Saint Felix Street. Currently operating out of 1,300 s/f in Downtown Brooklyn, the added space will allow New York City Explorers to serve a greater number of children and families. CPEX’s Office Sales & Leasing Team, led by Managing Director Rich Novak and Associate Director Gina Damond, represented the landlord and procured the tenant in the transaction.

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The Durst Organization and The Port Authority of New York and New Jersey announced three new leases at One World Trade Center. The landlord was represented Karen Kuznick, Director – Commercial Leasing for The Durst Organization, along with Tara Stacom, Justin Royce, Barry Zeller, Peter Trivelas and Connor Daugstrup of Cushman & Wakefield.

• Artificial intelligence company ASAPP, Inc. has expanded its presence by an additional 7,904 s/f on the 80th floor of One World Trade Center. ASAPP was represented by Principal Alexander Schwartz of Hudson Real Estate Partners. The company now occupies a total of 26,270 s/f in the tower.

Global Risk Advisors has expanded by an additional 10,026 s/f on the 83rd floor of the building. Global Risk Advisors was represented by Vice President Zachary Price and Senior Vice President Ramsey Feher of CBRE. The company now occupies 16,976 s/f.

Kensho Technologies has expanded by an additional 4,810 s/f on the building’s 76th floor, bringing their square footage totals at One World Trade Center to 12,340 s/f. Managing Director Michael Berg, Managing Director Howard Hersch and Associate Doug Kauffman of JLL represented Kensho Technologies.

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SVN | Realty Three Advisors announced the lease of 200 Wilson Street, Building B in Port Jefferson Station, to Xplore Kids Inc. The 17,000 s/f space has over 20 foot ceilings and an open floor plan. The space is being utilized by Xplore Kids Inc. for a family fun center/ with attractions geared towards children ages 1-12 years of age. Xplore signed a long term lease with the landlord, Port Jefferson BC. Aric Schachner and Lorraine O’Hara of SVN | Realty Three Advisors represented both parties.

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Schuckman Realty Inc. has welcomed Best Market as the new anchor tenant in the Morton Village Shopping Center located at 998 Old Country Rd. in Plainview. Best Market will occupy 27,584 s/f as the anchor tenant of the shopping center where it will join CVS, Chase, Subway, Verizon and others. Best Market signed a lease with a 20-year initial term in the space formerly occupied by ShopRite and is scheduled to open Q1 2019.

NEW JERSEY

NAI James E. Hanson brokered three lease renewals at the Van Brunt Business Center in Englewood. Ken Lundberg, SIOR, Steve Pastor, and Patrick Lennon represented the landlord, West Forest Avenue Industrial, Inc. and the tenants in tow of the transactions:

Marathon Enterprises renewed its 5,000 s/f lease at 9 Smith Street, Marathon Enterprises is a major regional supplier of meats gourmet delicatessen products across the New York City metro area selling their products under the Sabrett brand.

GNS Trading Corp re-signed for 5,000 s/f at 21 Smith Street. GNS Trading Corp is a jewelry and watch distributor that utilizes the space at 21 Smith Street for their warehousing and distribution needs throughout the New York City area. Young Lee of Eastern Realty represented GNS Trading Corp in their renewal negotiation.

ForTec Medical renewed their 5,000 s/f lease at 41 Smith Street. ForTec Medical is a pioneer in the medical device rental field. The renewal enables ForTec to continue to have a presence among the area’s largest hospitals.

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NIA National Realty arranged five lease transactions totaling 20,000 s/f at 66 Route 17 North in Paramus. 66 Route 17 North is a 2-story, 40,000 s/f mixed use retail and office building:

• A high end rug company signed a new 10-year lease for 5,000 s/f on the ground floor. It plans top open in June. NIA Vice President Gregory Panayoti served as broker in this transaction.

• Lois Law Firm has signed a 12,500 s/f long term lease.

• Primerica has signed a 1,500 s/f long term lease.

• Shift New Jersey and Forman Holt both extended their current leases.

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Somerset Development announced three new ground-floor retail leases at Bell Works, the revitalization of the Bell Laboratories in Holmdel. A Sabre Real Estate Group team led by Senior Vice President Justin Korinis, Director Dina Santarelli and Associate Sean Pyle is serving as the exclusive real estate leasing agent for Bell Works. Newly announced retail tenants at Bell Works include:

• City Barn | Country Penthouse, a boutique offering home, bed, bath, and other gift items, in addition to home design consultation services.

• Dimension Dental, a dental support organization with a network of locations throughout New Jersey and Pennsylvania. Somerset Development was represented by Colliers International in the transaction.

• OceanFirst Bank, a community bank offering commercial and residential financing solutions, wealth management, and deposit services.

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NAI James E. Hanson brokered a lease for 28,900 s/f of industrial space with NJ Rubber, LLC at 475 Division Street in Elizabeth. Barry J. Cohorsky, SIOR, LJ Koch and John Schilp represented the landlord, Tree Realty, LLC. The 175,000 s/f industrial building is located near Port Newark Elizabeth,. NJ Rubber’s space features five loading docks, 10 trailer spaces and 18 ft. ceilings.

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