THIS WEEK’S LEASES UNDER 10,000 S/F
Cassidy Turley negotiated three leases totaling 24,900 s/f at 527 Madison Avenue on behalf of Wunderlich Securities, Long Pond Capital and Meru Capital. James Frederick, executive managing director and principal of Cassidy Turley and Peter Occhi, managing director, represented owner Mitsui Fudosan America in the transactions.
JIM FREDERICK
• Long Pond Capital signed an 8,200 s/f lease expansion for the entire 15th floor. The company was looking to expand its office. In order for Long Pond Capital to move in within the timeframe needed, Cassidy Turley arranged for the early termination of Sanders Morris Harris’ lease to provide access to the space for interior construction. Daniel Madison, executive managing director of Newmark Grubb Knight Frank, represented Long Pond Capital.
• Wunderlich Securities, a full-service brokerage firm, signed an 8,600 s/flease for the entire 10th floor. The Cassidy Turley team worked with Sanders Morris Harris to convert Wunderlich from a sublease, which is scheduled to expire in late fall 2013, to a direct lease from the ownership. Brian Hay, first vice president of CBRE, served as tenant representative for Wunderlich Securities,
• Meru Capital Group, this New York-based hedge fund launched in 2009, renewed for 8,100 square feet, the entire 17th floor. Daniel Madison, Newmark Grubb Knight Frank, represented Meru Capital.
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Jones Lang LaSalle has completed a new full-floor lease with Shazam Media Services at 52 Vanderbilt Avenue for Brause Realty Inc. The music identification service leased a full floor of 9,275 s/f of commercial office space at the boutique, Class A office building. Brause Realty, was represented by Lloyd Desatnick along with Frank Doyle and Alexis Tener Petrus. The group worked closely with Melissa Brause Rackoff, vice president, and David Brause, president, of Brause Realty. The tenant, Shazam, was represented by Evan Margolin, Lance Leighton and Gabe Marans, all with Studley Inc.
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Six new tenants have signed leases at 370 Lexington Avenue, announced Sherwood Equities, the landlord. In addition, eight tenants have renewed their leases.The building is devoted to providing a first-class business environment for smaller space users in the Grand Central District. Adam Weissleder, leasing agent at the building, along with Jill Burrowes, represented Sherwood Equities in the deals.The transactions include primary leases with:
• VINCI Concessions USA Inc., the US arm of a France-based concessions and construction company (3,612 s/f). Tenant broker: Brett Gartner of Winslow & Company, LLC.
• Held & Hines, a law firm (2,410 s/f). Tenant broker: Curtis Woodside of Rice & Associates LLC.
• Council for American Education and Culture, a non-profit organization (2,244 s/f). Tenant broker: Brett Maslin of Adams & Company.
• Freixenet USA, a leading producer of sparkling wines (2,128 s/f). Tenant broker: Will Carr of Williamson, Picket, Gross, Inc.
• AMH Equity Ltd., a financial investment advisory firm (1,916 s/f). Tenant broker: Wayne Siegel of Coldwell Banker Commercial Alliance.
• Manhattan Residential Inc., an owner and developer (464 s/f). Tenant broker: Shai Shustik of Manhattan Residential.
NEW JERSEY
HERB ZIMMERMAN
Bussel Realty Corp. (BRC) represented Robinson Elevator in leasing 11,100 s/f at 652-654 Rahway Avenue in Union, NJ, a free-standing office/industrial building. BRC also represented the landlord, Murray Construction. BRC senior vice president Herb Zimmerman was responsible for the transaction along with Brian Fitzsimmons of Murray Construction.
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NAI James E. Hanson announced the completion of a five-year lease renewal at 795 Franklin Avenue, a Class B office building in Franklin Lakes, N.J. Hackensack University Medical Center will occupy 3,425 s/f at the building. Executive managing director Michael G. Walters, SIOR, and vice president Steven G. Leitner, CCIM, handled the assignment. Sabra Realty owns the property. Also known as Campgaw Plaza, the two-story, 14,500 s/f building was constructed in 1984 and has 50 parking spaces.
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Levin Management has announced a long-term lease with HomeGoods at The Shoppes at Flemington in Flemington, N.J. Levin’s leasing representative Jake Frantzman negotiated the transaction, which included construction of a new 22,000 s/f building for the home fashions retailer. Jerry Welkis of Welco Realty served as the broker for HomeGoods. The Shoppes at Flemington is owned by New York-based Garrison Investment Group.
CONNECTICUT
Charter Realty and Development announced the leasing of its 25th TJX, a subsidiary of Marshalls, at the Meriden Mall, a 894,435 s/f mall in Meriden, CT, owned by the Westfield Group. Charter Realty and Development is TJX’s exclusive broker for Connecticut. The retailer leased 23,137 s/f at the Meriden Mall.
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CORY GUBNER
JP Morgan Chase Bank has signed a 10-year renewal space at Pickwick Plaza 3A two years before its current lease expires. Located in a 4,000 s/f, multi-level space in the complex owned by Kensico Properties and managed by Hines, it sits directly on Greenwich Avenue near Post Road, with the main entrance just inside the plaza. Alan Zimmerman, executive vice president of Kensico Properties represented the owner. Corey Gubner, president and CEO of RHYS Commercial, represented JPMorgan Chase Bank.
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The Landis Group announced that Northwestern Mutual – Stamford has signed a long-term agreement to occupy approximately 20,000 s/f at 400 Atlantic Street, a 15-story Class A office tower. Scott Landis, principal at The Landis Group, made the announcement.
