View this email in a web browser
image description
Commercial Observer
image description
Edited by Jotham Sederstrom | Jsederstrom@observer.com

image description
Thursday March 07, 2013
image description

TD Ameritrade Lease at 100 Broadway Fills Void

AL BARBARINO

TD Ameritrade has signed a 10-year, 9,509-square-foot lease for the ground floor and lower level at 100 Broadway, The Commercial Observer has learned.

The corner retail space in the 24-story office building features more than 170 feet of frontage along Broadway and Pine Streets.

“It’s a great corner space in the heart of the Financial District and steps from Wall Street, which lends itself well to a prominent financial institution like TD Ameritrade,” saidCushman & Wakefield’s Gene Spiegelman, who represented the landlord Madison Capital with Michael O’Neill.

The transaction, along withDuane Reade’s lease of roughly 25,000 square feet in 2011, completes the lease-up of the 35,000-square-foot space previously occupied byBorders bookstore before the company went bankrupt.

Just as the Borders bankruptcy represented the worst of times, the leasing of the retail space is symbolic of Lower Manhattan’s revival, as brokers and the real estate industry at large watch as their hopes and efforts finally materialize, spearheaded with the emergence of 1 World Trade Center (withConde Nast as anchor) and the repositioned Brookfield Place (formerly known as World Financial Center).

To read the full story, click here.

Lights Up! Latest to Illuminate Industry City

BILLY GRAY

The lighting designer and manufacturer Lights Up! has signed a 12,000-square-foot lease at 148 39th Street in Industry City, The Commercial Observer has learned.

The company—which has provided commercial and residential lighting since 1987—will use the space primarily as a manufacturing and wholesale location, and has plans to add a design studio component down the line.

Julius Chabbott, director of real estate at Industry City, represented the landlord. The tenant represented itself. Asking rents were $13 per square foot. Mr. Chabbott was not available for comment.

Lights Up! President Rachel Simon said that the company is moving from a similarly sized space in a four-story building in East New York. "We had to relocate. And we had to have loading docks and freight elevators, which are hard to come by," Ms. Simon said. Industry City offered both.

To read the full story, click here.

Brause Realty Aims for Tech Tenants With Enlistment of Transwestern as Agency Team

GUS DELAPORTE

Brause Realty has enlisted Transwestern to provide leasing services for its property at 254 West 31st Street, it was announced yesterday. The firm is aiming to attract technology companies to its Midtown South office building, according to David Brause, president to Brause Realty.

“It became obvious we wanted to change the direction of the building to one marketed toward that younger generation of firms and we thought Transwestern offered a good team,” Mr. Brause told The Commercial Observer. The Transwestern leasing team will include Lindsay Ornstein, John Grotto, Aaron Kaufman and Debra Larsen.

The building is fully occupied except for the sixth floor and Transwestern’s leasing team has already received interest in the space, according to Mr. Brause. “We already have three offers on the floor significantly in excess of what we thought the market was for the space,” he said. “Hopefully these tenants will land here and we will bring more like them to the building.”

To read the full story, click here.

Thursday's Must-Attend Real Estate Events

MICHAEL EWING

Marko Remec will be presenting part of his Totem Series, which features convex safety mirrors precisely arranged along trees. In this showcase, he will be appropriating several of New York City’s trees for a one-week sculpture presentation of You Are Not the Boss of Me (Tree Totem), the latest permutation of the series.
Exhibit one, outside of Pier 94 near the Armory Show off West 54th Street; exhibit two, outside of C24 Gallery on 514 West 24th Street; March 7-14, contact Bryan Darrow at bdarrow@joelefrank.com for more information.

image description
image description
image description
image description
image description
image description
image description
image description
image description
image description

FORWARD THIS EMAILSUBSCRIBEUNSUBSCRIBE

Visit the Commercial Observer for the latest in real estate news.

The New York Observer LLC | 321 W. 44th St. 6th Floor | New York, NY 10036

Banner photography by William Warby. Please read our Privacy Policy.

Copyright 2012 New York Observer