The estimated aggregate value of the lease is $1.72 million. The 1948-built property, fully renovated in 1998, is 100% leased. A three-floor office addition was added four years ago. Quoted rent is $15 per sf.
Greg Katz and Mark Rubin of Julien J. Studley's local office negotiated for the tenant.
Stiles Realty Co., a Stiles Corp. division headed by Thomas Kates, coordinated the transaction which was handled by leasing representative Kathy Grandis. The property owner of record is Third Avenue Associates Ltd., a Stiles Corp. partnership.
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