The following is a selection of media placements for Great Ink clients and a summary of each.
CBRE New Jersey
January 8, 2019
By David Cohen
The CBRE team of Elli Klapper, Charles Berger and Mark Silverman represented the seller of 966 South Springfield Avenue in New Jersey in the $13.3 million sale. The 60,000 SF property is the HQ for the watch and jewelry divisions of luxury brand of LVMH Moët Hennessy Louis Vuitton SE, a French multinational luxury goods conglomerate headquartered in Paris.
Savanna
January 8, 2019
By Rebecca Baird-Remba
The Falchi Building at 31-00 47th Avenue in Long Island City is featured in the Commercial Observer‘s Under Construction column. It showcases the $20 million renovation of the infrastructure and systems by the owner, Savanna, which purchased the property in 2016 from Jamestown. The Falchi Building was built in 1922 as a warehouse for the Gimbel’s department store, and benefits from a large floor plate and expansive windows. Current tenants at the 736,000 SF building include Uber, Lyft and the NYC Taxi and Limo Commission. Food vendors like Juice Press are in the lobby. Savanna is marketing 150,000 SF of office space.
GFP Real Estate
January 7, 2019
By Rich Bockmann
GFP Real Estate purchased the 900,000 SF 7 Hanover Square in FiDi for about $300 million about a year ago. The real estate firm is also putting $250 million into the modernization of the building and welcomed the building’s first tenant. NYC Health and Hospitals signed a 527,000 SF lease at the property, which GFP is rebranding as 50 Water Street. NYC Health and Hospitals will consolidate its 2,600 employees working in six offices around the five boroughs. The company is a nonprofit that operates the city’s public hospitals and health care facilities.
The Praedium Group
January 7, 2019
By Zack Maxwell
The Praedium Group acquired the 353-unit Arlington Commons apartments in North Arlington, Texas from The Nehemia Company for an undisclosed price. The company saw a lot of growth potential in Arlington, and the building is still experiencing strong leasing activity.
Avison Young
January 4, 2019
By Joshua Burd
Autoclear, a security inspection systems firm sold its 42,000 SF Fairfield, NJ headquarters at 2 Gardner Road and relocated to 22,000 SF at 10A Bloomfield Avenue in Pine Brook. Matthew C. Turse, Tim J. Cardigan and John Recchia of Avison Young represented Autoclear in its sale to Third Wayne LLC, as well as in its relocation to Pine Brook.
Waterton
January 4, 2019
By Chris Wood
Simone Development Companies
January 3, 2019
By Linda Lindner
Two new medical deals at 385 Prospect Avenue in Hackensack, NJ bring the property up to more than 90% leased, according to James MacDonald of Simone Metro Properties who arranged the leases. Tenants who have taken occupancy at the property include NJ Imaging Network, Metro Vein, Garden State Dental and Quest Diagnosis, as well as Hackensack University Medical Center. Simone took ownership in 2017 and underwent a multi-million dollar renovation.
CBRE
January 3, 2019
By Diana Olick
Spencer Levy, Chairman of Americas Research at CBRE appears on CNBC’s Nightly Business Report with Diana Olick on January 3. He talks about reverse logistics, which is now the number one new user of warehouse space, occupying 700 million nationally. Reverse logistics is a term for the “hangover” of returns that come after the holidays and how it’s handled. The warehouse space provides an area for retailers to sort through the merchandise and make plans for the best way to manage the returns. Levy predicts the demand for warehouse space for reverse logistics will increase during 2019.
Thornton Tomasetti
January 2, 2019
By C.J. Hughes
John Peronto, a principal at engineering firm Thornton Tomasetti is quoted in a New York Times article that looks into the increased use and benefits of mass timber. The firm is currently working on Ascent, a 201-unit luxury rental tower in Milwaukee, Wisconsin for New Land Enterprises. At 21 stories, when completed, it would be the tallest timber tower in the Western Hemisphere.