Avison Young arranged a new 15-year, 3,200-square-foot retail lease for an affiliate of Associated Supermarket at 3805 Broadway, a former Payless ShoeSource in Washington Heights. Todd Korren, principal with Avison Young, represented the property owner, Dynamic Broadway Corp. Associate Maria Fernandez represented the tenant. Associated was looking to expand its New York City footprint with a new modern supermarket experience in the growing Washington Heights neighborhood, and ownership was able to secure a long-term lease with a quality retail tenant that was a perfect fit for the space.
The following is a selection of media placements for Great Ink clients and a summary of each.
Client
Marx Realty
Date
August 12, 2019
MassMutual signs lease for new office space
By Steve Cuozzo
summary
Insurance company MassMutual has signed a 10-year, 22,000-SF lease at Marx Realty’s 10 Grand Central (708 Third Avenue). Marx recently completed a $48 million renovation which included a new lobby, lounge, outdoor terrace, and hip finishes and amenities. With the MassMututal lease, the 405,000-SF 10 Grand Central is 91% occupied. Recent signings include Agence France-Presse, 23 Capital and Everside Capital Partners.
Client
Stuart Saft
Date
August 9, 2019
Rent Stabilization — and Much Other Policy — Does Not Make Sense
By Stuart Saft
summary
Stuart Saft, chair of real estate at Holland & Knight, provides thought leadership in the Commercial Observer. He discusses how the new law making rent stabilization permanent and not allowing landlords to recover the cost of renovations will further harm the market, resulting in less housing product.
Client
Kalmon Dolgin Affiliates, ABS Partners
Date
August 2019
Gone golfin’
By E.B. Solomont
summary
An article in The Real Deal’s August 2019 issue highlights the real estate industry’s avid golfers, the memories they have on the course, as well as the deals made during the game. Kalmon Dolgin, co-president of Kalmon Dolgin Affiliates and John Leslie, senior managing director at ABS Altman Warwick, share their recollections.
Client
Savitt Partners
Date
August 8, 2019
Swimwear Designer Takes 34K SF at 250 West 39th Street
By Nicholas Rizzi
summary
Swimwear designer and manufacturer Longevity Brands will consolidate its two Manhattan offices and showrooms into its current Garment District headquarters, in a deal arranged by Savitt Partners, whose Marc Schoen and Elliott Zelinger represented Longevity Brands. The tenant signed a 10-year lease for 33,952-SF at 250 West 39th Street; it currently leases 19,123-SF on part of the third and the full fourth floor. It will leave that space and its 12,000-SF office space at 1441 Broadway to take over the eighth, ninth and 17th floors at 250 W. 39th. Cushman & Wakefield’s William Golden and Bill Fressle represented the landlord, Qatari real estate investment firm Alduwaliya Asset Management, in the deal.
Client
Populous
Date
August 8, 2019
What can airports learn from stadium design?
By Geoffrey Ax, Head of the Aviation Practice at Populous
summary
Geoffrey Ax, head of the aviation division at Populous, discusses three major factors that can improve the airport passenger experience, making the airport part of your journey instead of a means to an end. He looks to innovations in the stadium and arena design (Populous has designed many major sports and entertainment stadiums around the world) and how it might inform the next wave of airport design and programming.
Client
Avison Young
Date
August 8, 2019
Vacant Payless ShoeSource Will Become Supermarket for Washington Hts.
summary
Client
Thornton Tomasetti
Date
August 7, 2019
Engineering a renaissance at Willis Tower
By Matt Baker
summary
Illinois Real Estate Journal profiles the two-year, $500 million renovation of Chicago’s iconic Willis Tower, which is being upgraded with new elevators, lighting, and amenities. The building’s base has also been transformed into “Catalog,” –an homage to Sears Roebuck and Company that formerly anchored the building — an airy five-story, 300,000-SF space that will feature a food hall, entertainment, retail and a rooftop green space. Thornton Tomasetti provided structural services for the addition to the supertall building.
Client
First Financial Network
Date
August 7, 2019
Ukraine Kicks Off Bad Debt Market With $1.35 Billion Jumbo Sale
By Antonio Vanuzzo and Daryna Krasnolutska
summary
Bliss Morris, founder and CEO of First Financial Network, is quoted in a Bloomberg story about debt in the Ukraine.
Client
Avison Young
Date
August 7, 2019
Avison Young’s Nelson Team Markets Retail Condos in FiDi
summary
Avison Young’s Tri-State Investment Sales Group is marketing two retail condominiums totaling 7,733 square feet on two floors at 90 William St. in the Financial District. The asking price is $6.25 million. James Nelson, head of tri-state investment sales, is marketing the offering on behalf of the current tenant and owner, a religious institution, along with director Brent Glodowski and associate Carter Lovejoy. The retail condos sit at the base of a 17-story residential condo building that benefits from excellent pedestrian traffic.