Long Island
Computer Network Solutions has leased approximately 35,000 square feet for its corporate headquarters and managed network operations at 131 Hoffman Ln. in Islandia, NY. Scott Berfas and Chuck Tabone of Newmark Knight Frank represented CNS in lease negotiation, and Newmark’s Jack O’Connor, Brian Lee and Berfas also represented ownership, Matteau! Matteau! Matteau! Realty, LLC. “The 114,000-square-foot office building is being repositioned through comprehensive renovations,” Berfas says in a release. “CNS is moving its headquarters due to demand it is seeing from its account base in the area of colocation datacenter services.”
St. Joseph’s College, with campuses in Brooklyn and Patchogue, NY, has signed a long-term lease for the entire 27,500-square-foot second floor of the new 300 Building at Metropolitan Realty Associates’ Sunrise Business Center in Great River, NY. The private, non-sectarian college founded in 1916, plans to use the Great River space for administrative operations. Christopher E. Stack of CB Richard Ellis represented St. Joseph’s in the transaction. Metropolitan was represented in-house by Eric Englander and by a Cushman & Wakefield leasing team including David Leviton, Robert Kuppersmith, Marisa Karmitz and Zachary Price. Metropolitan’s deal with St. Joseph’s follows the company’s recent announcement that University Support Services, an administrative affiliate of St. George’s University in Grenada, had leased 50,000 square feet at the same property.
New York City
UGL Equis recently negotiated a six-year sublease on behalf of Reval.com, Inc. at 420 Fifth Ave. The derivative risk management firm is moving from 100 Broadway into the Grand Central submarket, where it’s subleasing 29,406 square feet from Macquarie Holdings. Cushman & Wakefield’s Robert Tanzmann represented Macquarie; a UGL Equis team that included Dirk Hrobsky, Peter Trivelas, Gary Ceder, David Burton and Andrew Sansom spoke for Reval.
Houston-based Susman Godfrey LLP is planning to move into larger Manhattan offices at 560 Lexington Ave. by year’s end, having signed a 10-year, 16,325-square-foot lease to occupy the property’s entire 15th floor. Studley’s Jarod Stern and Brad Wolk represented the law firm. Landlord Rudin Management was represented in-house by Rob Steinman and Tom Keating.
While one law firm moves, another has opted to stay put. Putney, Twombley, Hall & Hirson LLP has renewed its 20,987-square-foot, full-floor lease at 521 Fifth Ave. It’s been headquartered there for many years. Melissa Bazar of Cushman & Wakefield represented the tenant, while SL Green Realty Corp.’s David W. Turino provided in-house representation.
Modeling agency DNA Model Management has relocated its Manhattan headquarters to 555 W. 25th St., taking 7,200 square feet in a 10-year lease that expands its space by nearly 50%. Studley’s Zev Holzman and Casey Lewis represented DNA, while Mark Furst of Cassidy Turley represented the landlord. Asking rents at the 51,000-square-foot office property are in the low $30s per square foot.
Massey Knakal Realty Services earlier this week announced the closing of its 100th transaction of the year. A warehouse property at 195 Bay 19th St. located between Bath and Cropsey Avenues in Brooklyn’s Bensonhurst neighborhood was sold in an all cash-transaction valued at $2.7 million. “We have clearly seen an increase in investment sales activity from historically low levels in 2009,” Massey Knakal’s Ken Krasnow says in a release. “Investors have more confidence, interest rates are still low and well located, stabilized assets can still command excellent pricing. The outlook for the remainder of the year looks even more promising.” Buyer and seller were not disclosed. Massey Knakal was the sole broker on the transaction.
NorthMarq Capital’s Craig Bjornsund arranged first mortgage financing in the amount of $34 million for two ULM Holding Corp. office properties: 300 E. 42nd St., where the main tenant is the United Nations, and 1776 Broadway. The properties contain a total of approximately 300,000 square feet of office space. Financing was based on a 15-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with Sun Life of Canada.
Boston
Marci Alvarado at Parsons Commercial Group, Inc. represented healthcare data firm Recombinant Data Corp. in its corporate headquarters renewal and expansion at Two Newton Place in Newton, MA. The tenant expanded from 5,700 square feet to 9,000. Landlord RMR West, LLC was represented in‐house.
Baltimore
Stat Experts Inc., a provider of on-demand and scheduled courier services, has leased 11,092 square feet of industrial space at 6704 Whitestone Rd. in Woodlawn, MD. Richard F. Blue Jr. of Blue & Obrecht Realty LLC represented the landlord, Colony Realty Partners, and Paul F. Obrecht III and Krager D. Sanders, also of Blue & Obrecht, represented the tenant.
Additional reporting by Alyson Grala.
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