Leases

Real Estate Weekly, Oct 9, 2002

Thomas Torelli of Allied Property Group announced the following transactions:

* Fogarty, Cohen, Selby & Nemiroff has signed a 12,500-SF lease extension for six years at 88 Field Point Road in Greenwich, Conn. The tenant was represented by Bruce Cohen, a senior partner of the firm. Thomas Torelli of Allied Property Group negotiated the lease on behalf of the Landlord, Fairstone Properties LLC.

* Strittmatter Studios has signed a lease at 103 Mason Street in Greenwich, Conn. The tenant expects to open a high-end kitchen and bath showroom of approximately 1,575 SF. The landlord (Brian Derossier) in this 10-year lease was represented by Brad Hvolbeck, and the tenant was represented by Thomas Torelli of Allied Property Group.

Aries Deitch & Endelson, Inc. announced that PETsMart, Inc. has signed a 23,300 SF lease at 525 Connecticut Ave. in Norwalk, Conn. Martin Deitch and William B. Hesse, of Aries Deitch, represented the landlord in the transaction. Timothy McNamara, of Sullivan Hayes Companies, and Thomas Londres, of Metro Commercial Real Estate, represented the tenant.

W&M Properties announced that Property Resources Corp. has signed a six-year, 4,157 SF lease at Ten Bank St. in White Plains, N.Y. Jeffrey H. Newman, executive vice president of W&M, JoAnn B. McGrath, vice president of leasing and marketing, and Laurie W. Russell, senior leasing associate, represented the tenant in the transaction. Patricia A. Valenti, of Newmark & Company Real Estate, represented the tenant.

Goldschmidt & Associates announced that the Dollar Saver has signed a 2,700 SF lease at Route 6 CVS Plaza in Mohegan Lake, N.Y. Eric S. Goldschmidt, senior partner of Goldschmidt & Associates, represented the landlord in the transaction.

Insignia/ESG announced that Clinphone has signed a 25,500 SF sub-lease at 9 Roszel Road in West Windsor, N.J. Ray Sohmer, executive director of Insignia! ESG and Matthew Saker, director, represented the sub-landlord in the transaction. GVA Williams represented the tenant in the transaction.

Sheldon Gross Realty Inc. announced that Able Laboratories has signed a 21,500 SF lease at 600 Montrose Ave. in South Plainfield, N.J. Robert Bowman and Jonathan Glick, of Sheldon Gross, represented the tenant in the transaction. Joshua Adler and Matthew Adler, of Adler Development, represented the landlord.

Colliers ABR, leasing and managing agent for 461 Fifth Ave., has announced yet another full floor lease--the eighth this year--at the distinctive 26-story office tower. The building's newest tenant is Ameriquest Mortgage Corporation, the West Coast-based national finance company, which took the entire eighth floor comprising 10,595 SF for its mortgage securitization group. Jim Frederick and Peter Occhi of Colliers ABR represented the landlord, Mitsu Fudosan America, Inc. in the long-term leasing transaction. CB Commercial represented the tenant.

Brokers Alan I. Sinovsky and Marc S. Schoen of Hunter Realty Organization, LLC have arranged a seven-year lease for the entire seventh floor at 470 Seventh Ave., comprising 6,500 SF, for the Arc Group, Ltd., announces Richard I. Selig, a founding principal of Hunter. Arc Group is moving from 221 West 37th Street. The Hunter brokers worked directly with the company's president, Lenny Bender, and vice president, Fortune Deffi. Representing the landlord Kaufman Management was Steve Kaufman.

Working with Insignia/ESG as its agent, Swiss Re disposed of nearly 76,000 SF of space at 230 Park Ave. by signing two major subleases at the 34-story, 1.2 million-SF building between 45th and 46th Streets owned by Max Capital. Babcock & Brown, a global merchant! investment bank, signed an 18-year, 56,112-SF deal for three floors (31, 32, and 34), while Clark/Bardes, a health care consulting group, signed a 10-year 19,672-SF sublease for the 27th floor. Insignia/ESG's Gregory Tosko, Ken Meyerson, Rob Makaron, David Hollander-and Sacha Zarba negotiated the transaction on behalf of sublessor Swiss Re. Glenn Roberts and Michael Cohen of GVA Williams acted for Babcock & Brown, which moved from 599 Lexington, while Michael Monahan and Silvio Petriello from Insignia's New York office, along with Jeffrey Eiting and Randy Cooper of Insignia's Dallas office, represented Clark/Bardes.

Cushman & Wakefield announced that Bingham McCutchen LLP has signed a 15-year lease for an additional three and a half floors at 399 Park Ave. The firm is consolidating its operations from 88:5 Third Ave. Cushman & Wakefield president of U.S. operations Bruce Mosler, chairman of the board John Cushman and executive director Mitchell Barnett represented Bingham McCutchen in the lease negotiations. The landlord, Citigroup, represented itself.

The Chubb Corporation, one of the nation's largest insurance organizations, has leased an additional 47,000-SF at 55 Water St. in Downtown Manhattan, according to Cushman & Wakefield. Chubb was represented jointly by Cushman & Wakefield's Josh Kuriloff and Insignia/ESG's Richard Bernstein. The landlord, Alabama Pension Fund, was represented by Ed Kulik. Chubb signed a new lease for part of the 27th and 28th floors at 55 Water St., for a term concurrent with its existing lease of 15 years. The firm had occupied part of the 28th , as well as the 29th and 30th floors, prior to the new lease.