The Lease Beat
In September, retail brokerage veteran Patrick Breslin joined Studley as executive vice president of East Coast Retail Services, a division that, until now, the international real estate firm never had reason to focus on. The former president of Grubb & Ellis’s U.S. retail division and a retail broker at CBRE, Mr. Breslin, 50, spoke about his strategy at the International Council of Shopping Centers this week, his goals for Studley’s new East Coast Retail division and father Jimmy Breslin’s views on commercial real estate.
The Lease Beat
Credit Agricole has renewed approximately 350,000 square feet at 1301 Avenue of the Americas in one of the largest leases to get done in the second half of 2011.
The owners of 681 Fifth Avenue, a building that already counts aspiring global fashion company Belstaff as a tenant, has brought on three new tenants into its fancy fold, including financial firms Peregrine Financial Group and Altum Capital Management.
Apex Bulk Carriers, an international owner of large shipping vessels, also signed a lease to take up the entire 11th floor.
In June, the rapidly growing product development social network Quirky inked a deal for 27,500 square feet at 601 West 27th Street, a former ministorage facility currently in the process of converting into offices for a number of other tech companies. Otherwise known as the Terminal Warehouse Building, the seven-story, 1.2 million-square-foot property near 11th Avenue was built in the late 19th Century, yet only just began leasing space to office tenants several years ago. As such, Quirky, which quadruples in size from its current space at 628 Broadway, took advantage of raw space, high ceilings and start-up friendly, loft-like floor plates. After the jump, Ben Kaufman, the company’s 25-year-old founder and chief executive and Greg Taubin, a senior managing director at the real estate firm Studley who inked the deal, reviewed the floor plan and discussed what impressed them the most.
Cicatelli Associates, a public health nonprofit that uses education and research to foster healthful living, has signed a long-term renewal and expansion at the Newmark Holdings-owned 505 Eighth Avenue. Under the new deal, the group, which previously occupied part of the second floor, as well as all of the 16th and 20th will vacate its space on the second in exchange for the entire 19th, brokers involved with the deal told The Commercial Observer.
FremantleMedia, among the largest producers of reality television brands in the world, including American Idol, America’s Got Talent and loads of other shows your kids watch, has signed an 8,000-square-foot lease at 435 Hudson Street. The group will occupy part of the fourth floor of the building, in part to consolidate all of its operations under one roof. In October, the group acquired a 60 percent share of @radical.media, a global media business that is also housed at the Trinity Real Estate-owned building. FremantleMedia is expected to relocate later this year after the space is renovated.
110 East 59th Street
We can’t tell if it’s the pre-Lehman asking rents or the prescription pharmaceuticals, but it’s a little dizzying atop Jack Resnick & Sons signature tower abutting Park Avenue.
RP Management, the investment manager for pharmaceutical royalties firm Royalty Pharma, has inked a 10-year lease for 13,284-square-foot on the entire 33rd floor. The firm Read More
It was for Burberry, the iconic clothier most famous for its butterscotch-plaid scarves, that the Studley broker David Goldstein made his most memorable mark on New York’s fashion industry.
During a relationship that stretches back to 2007, Burberry’s executives called upon Mr. Goldstein to devise a plan for the London-based company to exit its Read More
“My personal life is more interesting than my professional life,” said Ira Schuman, half-joking, late last week.
And, certainly, for a man who delights in throwing elaborate 60-guest dinner parties, or for whom building a lake qualifies as a pastime, Mr. Schuman has a personal life that is indeed hard to beat for material. Read More
Commercial real state, apparently, is best understood in terms of baseball. CB Richard Ellis, the city’s biggest commercial brokerage, once again beat out the competition in the struggle for Manhattan’s top office leasing deals, according to the annual mid-year list published in Crain’s with data from CoStar (it came out today). It’s a three-peat for Read More