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Deals & Dealmakers

Transwestern brokers 30,000 s/f Goodwill renewal

 Transwestern Real Estate Services (TRS) announced it represented Goodwill Industries of Greater NY and Northern NJ Inc. (Goodwill NYNJ) in its 30,800 s/f lease renewal of the full third floor of 25 Elm Place in Brooklyn.

Goodwill NYNJ provides training, placement, on-the-job coaching, and retention services from this Brooklyn location.

Transwestern partner Stephen Powers, executive managing director Arthur Skelskie, partner Lindsay Ornstein, senior associate Jake Cinti and senior associate Alexander Smith provided Occupier Solutions services for Goodwill NYNJ.

“Goodwill NYNJ has served more than 100,000 Brooklyn residents in the past five years. We are deeply committed to continuing to launch innovative programs and to provide vital training and employment services for some of the most vulnerable New York City residents from our Elm Place location,” said Katy Gaul-Stigge, president and CEO of Goodwill NYNJ.

Goodwill’s office at 25 Elm Place is located in the former J.W. Mays department store building, which is now home to many nonprofits, creating a hub of social services agencies in downtown Brooklyn.

“The lease with J.W. Mays provides Goodwill with a feeling of security in a very uncertain time,” said Powers, who leads Transwestern’s national Nonprofit Advisory Services group.

“We were able to negotiate a renewal that offers 20 years of occupancy cost certainty, keeping Goodwill’s real estate costs in alignment with its funding and enabling the nonprofit to serve the downtown Brooklyn area for many years to come. Importantly, the lease provides the community with significant stability by keeping in place a strong tenant in a neighborhood that is changing rapidly.”

The building ownership, J.W. Mays Inc., was represented internally by George Silva and Michael Caruso and by Robert Hebron and Rob Hebron of Ingram & Hebron Realty.

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