Lex Ave. tenants renew

Real Estate Weekly, Feb 5, 2003

Two prominent retail tenants- - Duane Reade and Cohen Fashion Optical, Inc.- - have renewed their leases for over 9,000 SF of ground floor store space at 485 Lexington Ave., the 31-story office tower occupying the entire easterly blockfront between 46th and 47th Streets.

Robert L. Billingsley, David L. Hoffman and Wendy Miller of Colliers ABR, Inc., leasing agent for 485 Lexington Ave. represented the landlord, Teachers Insurance Annuity Association (TIAA) in the long-term lease transactions.

Jeff Winick, of Winick Realty, represented Duane Reade in the renewal of its 7,141 SF of space, while Susan Goldberg, vice president of Cohen Fashion Optical, negotiated directly on behalf of her company in renewing its 2,050 SF.

According to Billingsley, the value of the two combined retail leases exceeded $16 million.