Location: New York
Challenge:
- Sublease 271,150 square feet of space encompassing 10 floors in midtown office tower (ongoing project)
Solution:
- Established a multi-tiered marketing plan
- Oversaw the brokerage process and negotiated leases
- Determine lease administration protocol and asset management
- Served as intermediary between building management, ownership, Avon and subtenants
- Negotiated lease terms, tenant improvement allowance, free rent period on Avon’s behalf
- Hired and directed the brokerage firm who handled the deal
Results:
- Leased 125,000 square feet to Hospital for Special Surgery
- Leased 49,300 square feet to Epix
- Leased 24,650 square feet to WestPoint Home
- Leased 24,650 square feet to Rose Associates
- Leased 24,650 square feet to Compliance Solutions Strategies
- Limited financial obligations owed by Avon