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Deals & Dealmakers, Featured »

[22 Sep 2014 | No Comment | ]
Consortium to buy Cassidy Turley, create $3B global brand

Cassidy Turley, the commercial real estate services provider, announced today (Monday) that it has entered into an agreement with an affiliate of DTZ Investment Holdings, to sell 100 percent of the equity interests of Cassidy Turley.

TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan (the consortium that agreed to acquire DTZ) said the deal is dependent on Cassidy Turley’s combination with the operations of DTZ Group to create a global, full-service commercial real estate services company.

Deals & Dealmakers, Featured »

[18 Sep 2014 | No Comment | ]
Avison Young aquires local asset manager

Mark E. Rose, chair and CEO of Avison Young, announced that the firm has acquired New Jersey-based asset management firm Kwartler Associates.

The acquisition continues to strengthen the firm’s presence in the tri-state area and pushes its management portfolio in Canada and the U.S. to approximately 70 million square feet.

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
Boston Properties sells $1.5B package to Norway

Boston Properties announced that it has entered into a purchase and sale agreement to sell a 45 percent interest in each of 601 Lexington Avenue in New York City, and Atlantic Wharf Office Building and 100 Federal Street in Boston to affiliates of Norges Bank Investment Management for $1.5 billion.

The deal puts the combined value the properties around $4.06 billion.

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]

The CBRE Long Island team of Vincent LaManna and Richard Freel represented REGUS, the world’s largest provider of flexible workspace in a 16,500 s/f office lease on a portion of the fifth floor at 70 East Sunrise Highway in Valley Stream, NY.
The space represents REGUS’ eighth office suites location in Long Island and demonstrates the company’s initiative to further expand its presence in the region.
LaManna and Freel worked with REGUS to identify demographically appropriate locations for Regus’ expansion, and chose 70 East Sunrise to negotiate the long-term lease with the …

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]

Monday Properties and Invesco announced that Hunt Companies Inc. has signed a direct lease for 20,643 s/f of office space, the entire 19th floor, at 230 Park Avenue.
Hunt Companies, a privately-owned investor, developer and manager of real estate assets headquartered in El Paso, Texas, will use the space as its office for the Hunt Mortgage Group, which is relocating from 100 Church Street in lower Manhattan.
Hunt Mortgage Group works with developers, owners and investors to provide capital to develop, acquire or redevelop their real estate assets.
Anthony Westreich, CEO of Monday …

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]
Ad’ agency seizes Broadway space

As Downtown leasing activity by media companies continues unabated, gyro, a global business-to-business advertising agency, is relocating to Lower Manhattan and expanding its office space by nearly double its current size.
The firm has signed an 11-year lease that will make them the only tenant to occupy an entire floor at 115 Broadway, a landmarked 21 story office property located on the corner of Broadway and Cedar Street.
Gyro’s current address is 31 West 27th Street and expects to relocate in the 4th quarter of 2014.
Savills Studley’s executive managing director, I. Keith …

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]

JLL has completed a new, direct transaction for Edward J. Minskoff Equities Inc. at 101 Avenue of the Americas.
DigitalOcean Inc. signed a 10-year lease for 23,458 s/f at the Class A, 428,624 s/f office tower.
The building owner was represented by Paul N. Glickman and Mitchell Konsker, vice chairmen, and Jonathan Fanuzzi, executive vice president, along with Peter Riguardi, president of JLL’s New York tri-state region.
The team worked with Jeffrey Sussman, executive vice president at Edward J. Minskoff Equities. Digital Ocean was represented by Michael Kaufman, of the Kaufman Organization, and …

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]

BrightRoll, Inc., a video advertising technology platform, has leased the entire 55th floor, consisting of 26,286 s/f, at the Empire State Building, for its new East Coast headquarters.
Empire State Realty Trust, Inc. leasing director Tom Durels said, “The Empire State Building continues to attract industry leaders drawn to its urban campus amenities, modern technology and building systems, and internationally recognized sustainability measures.”
Deborah van der Heyden and Paul Ferraro of JLL represented the tenant in the lease negotiations. Landlord representation was provided by Ryan Kass, Fred Posniak and Keith Cody of …

Deals & Dealmakers »

[17 Sep 2014 | No Comment | ]

By Dan Orlando
Urban American Management is looking to sell a sizeable Brooklyn-centered portfolio and has recruited Eastern Consolidated to market the property.
The 14-building collection is expected to sell for about $200 million and it includes 13 properties in Brooklyn and one on Staten Island.
The grouping wields a total of 1,434 apartments with an average rent just north of $1,200 per unit, according to The Real Deal.
Eastern Consolidated’s CEO Peter Hauspurg, executive managing director David Schechtman, and director Marion Jones will be helping to facilitate the sale.
The portfolio is reportedly generating …

Deals & Dealmakers, Retail »

[17 Sep 2014 | No Comment | ]

As the fashion crowds flock to New York City for Fashion Month, Rachel Roy, a designer of women’s contemporary fashions, has found its new showroom and office space on Bryant Park.
The Savitt Partners team of Marc Schoen, Brian Neugeboren, and Michael Schoen worked with the brand’s partners, including majority holder Topson Downs of California Inc., to locate a new space to serve as the global headquarters of the brand. The firm secured a 10-year, 15,000 s/f  lease at 58 West 40th Street in Manhattan. The Rachel Roy brand will relocate from …

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