NEW YORK, NY (Jan. 10, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented Sorgente Group in the lease of 5,520 square feet of retail space to Tomasella U.S.A. at 32 Greene St. in SoHo (top left photo and top right map). The location represents the first Manhattan location for the high-end Italian furniture retailer.
Jason Meister, associate, Investment Group, and Gary Schwartzman, managing director, Retail Group, facilitated the transaction on behalf of Sorgente, which has been expanding its portfolio of real estate assets in New York and major markets throughout the U.S.
Grubb & Ellis represented Sorgente in the acquisition of 32 Greene St. in 2007. “This is a significant retail transaction for the New York City market, as the rent achieved indicates an upward trend for the SoHo retail corridor,” said Meister. “The fact that there are so many luxury home furnishing retail tenants in this area of Greene Street make it the perfect home for Tomasella U.S.A.”
Tomasella has leased the 2,610-square-foot ground floor and 2,910-square-foot lower level of the newly renovated cast-iron building, which has high-end residential condo units in the upper floors. The retail ground floor features approximately 34 feet of frontage, 15-foot ceilings and dramatic skylights spanning the width of the property.
The Sorgente Group is an owner and investor in New York and other top markets throughout the U.S. and globally. The company recently purchased a majority stake in the Flatiron Building.
Contacts:
Erin Mays, 312.698.6735, erin.mays@grubb-ellis.com
Mary Ryan , 212.326.4747, mary.ryan@grubb-ellis.com
No comments:
Post a Comment