W&H Properties leases 200,000 s/f in 3Quarter

Real Estate Weekly, Nov 26, 2008

Amid questions about the strength of leasing activity in the market, W&H Properties experienced a very high level of activity throughout its portfolio, leasing more than 200,000 square feet of office and retail space in the quarter that ended September 30, announced Fred C. Posniak of W&H.

Leading the transactions were new leases, including Coty, which took nearly 90,000 s/f at the Empire State Building; and fashion industry leader Central Mills, Inc., doing business as Freeze, which took more than 17,000 s/f on the 16th floor of 1400 Broadway.

Pre-built spaces continue to be hugely successful throughout the portfolio. Just a few of the third quarter leases for pre-built space include: Equifax (NYSE: EFX) at 1359 Broadway, Rackable at 1350 Broadway, Southern Music Publishing Company at 250 West 57th Street, and Cooper Creek Partners, SBI Consultants and Old Square Capital Advisors at 60 East 42nd Street.

"In today's market, firms and their brokers are looking not only for great spaces in great modernized buildings, but also for landlords with financial strength," said Posniak.

"W&H's 75-year history of financial stability assures prospective tenants that we will continue to deliver on our promises, time and time again, in a period when many other landlords are unable to fulfill obligations because of financial constraints, and this gives W&H Properties a significant competitive edge."