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Commercial Observer
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Edited by Jotham Sederstrom | Jsederstrom@observer.com

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Thursday October 10, 2013
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Charming Charlie Inks First Manhattan Deal

BY BILLY GRAY

The fashion accessories retailer Charming Charlie signed a 15,500-square-foot lease at 445 Fifth Avenue, The Commercial Observer has learned. It will be the chain’s first Manhattan location.

Jeremy Ezra and Greg Covey of RKF represented the tenant along with Jonathan Lapat of Boston-based Strategic Retail Advisors. The landlord, Thor Equities, was represented in-house.

To read the full story, click here.

Waggener Edstrom Inks Deal at 110 Leroy Street

BY GUS DELAPORTE

Public relations firm Waggener Edstrom has signed a seven-year, 9,416-square-foot lease for the entire ninth floor at 110 Leroy Street, The Commercial Observer has learned.

“Opportunities to get a full floor in that area to call your own are few and far between,” said Chris Mongeluzo, of Newmark Grubb Knight Frank, who represented the owner.

To read the full story, click here.

Law Firm Signs Huge Renewal Downtown

BY AL BARBARINO

Hughes, Hubbard & Reed has signed a 226,416-square-foot lease at Rudin Management Company’s One Battery Park Plaza – one of the largest Lower Manhattan deals of the year, which follows a surge in demand for big blocks of space.

The international law firm’s 20-year lease spans nearly 11 floors, comprising floors 10 through 18, a portion of 7 and a portion of the basement in the 36-story, 875,000-square-foot, class A building.

To read the full story, click here.

In Spite of Government Policy or Because of It?

BY KEN MCCARTHY

For much of my career of studying and forecasting activity in the U.S. economy and the commercial real estate industry, I have held fast to a maxim that what happens in the economy does so in spite of what goes on in Washington, D.C.

There is no denying that Federal Reserve policy, taxes and spending, and regulation all have an impact on the economy in various ways. But I have always held that the main driver of the economy is the ability and drive of individuals and businesses in the private sector to take an idea or a concept and turn it into a business. Innovation and entrepreneurship are what drive economic growth. The willingness and readiness to take a risk in the hope of achieving a profit is a critical determinant of whether and how fast the economy grows. When businesses and households are risk-averse, cautious and lack confidence, the economy suffers.

To read the full story, click here.

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