Real Estate Journal — June 24 - July 14, 2016 — 13A
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M id A tlantic R eal E state J ournal
Also completes a 15,000 s/f lease renewal at 509 Capolita Plaza in Rahway, NJ Metz of Bussel Realty leases 22,000 s/f at 1313 Livingston Avenue in North Brunswick, NJ N
which is expanding its alumi- num window manufacturing and assembly operations from Brooklyn to 1313 Livingston Ave. in North Brunswick. Jordan Metz , vice president of BRC, was responsible for the 10-year deal and repre- sented both Prograde Design and the landlord in the trans- action. “Working with my client, Michael Rubinstein, the owner of Prograde Design, was a pleasure and he was thrilled to expand his firm into quality industrial space at a lower rental rate as com- pared to the pricing Brooklyn
is commanding,” Metz said. “With very few quality op- tions available in the New Jersey industrial market, I was able to locate the ideal facility for his firmwhich will bring new jobs to the local market.” As an active broker in the industrial market, in particu- lar around the ports, Metz also completed a string of other recent transactions: •15,000 s/f lease renewal at 509 Capolita Plaza in Rahway, New Jersey, repre- senting the tenant, Grignard Company, a specialty chemi- cal company, and the land-
lord, Seagis Property Group. •12,000 s/f sublease trans- action at 1416 East Linden Ave. in Linden, New Jersey, representing both the tenant and landlord. •12,000 s/f lease at 1001 Roosevelt Ave. in Carteret, New Jersey, representing the tenant, BHB Trading, a cos- metics distributor with retail stores in New York City. •10,000 s/f lease transac- tion at 1 West Baltimore Ave. in Linden, New Jersey, representing the tenant, Uni- versal Parts, an auto parts distributor. •8,000 s/f lease transaction
in Raritan Center in Edison, New Jersey, representing the tenant, LGI Eyewear, a manufacturer and designer of high-end eyewear, and the landlord, Federal Business Centers. “There is tremendous de- mand, largely coming from Brooklyn and the New York City boroughs, as these com- panies flock to New Jersey for comparably lower rental rates and transportation costs,” added Metz. “The ports-proximate markets benefit from this as the most logical destination for these companies.” n
ORTH BRUNS - WICK, NJ — Bussel Realty Corp. (BRC) , a corporate and indus- trial real es- tate services firm in New Jersey, an- nounced its arranged a 22 , 000 s / f lease trans- action with Prograde Design, Jordan Metz Altuzarra triples in size and relocates to Woolworth bldg. NEW YORK — Savills Studley announced that ready-to-wear luxury women’s designer Altuzarra has signed a long-term lease for 11,516 s/f at 233 Broadway, New York City’s iconic Woolworth Build- ing, for its New York offices. The thriving luxury brand, which was launched in 2008, currently occupies 4,000 s/f at 21 Howard St. in Manhattan’s SoHo neighborhood. Altuzarra will relocate to a portion of the building’s 14th floor in August 2016. Asking rent was $59 per square foot. The move corresponds with the broader trend of high-end fashion companies relocating to Manhattan’s revitalized Downtown neighborhood. Ac- cording to Jeffrey Peck , who represented the tenant in the relocation and expansion, Altu- zarra prioritized motivating of- fice space that would enable the fashion company to continue to expand and maintain a sophis- ticated, chic environment. “First and foremost, Altu- zarra wanted a corporate office and showroom it considered inspirational—an office that both reflected the company’s culture and workforce and that would inspire creativity,” Peck said. “The Woolworth Building is an iconic landmark known around the world. As one of the earliest U.S. skyscrapers, the building’s rich history pro- vides an element of grandeur and distinctiveness that was attractive to Altuzarra.” Savills Studley executive managing director Jeffrey Peck, executive vice president Daniel Horowitz and man- aging director Christopher Foerch represented Altuzarra in the transaction. The build- ing owner, 233 Broadway Bor- rower, LLC, was represented by Thomas Hettler of The Lawrence Group . n
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