More than 2.6 million square feet
out of the nearly 6 million square feet
developed during 2006 was completed in the fourth quarter.
"Rentable Area" represents the number of square feet
based on which office tenants pay annual rent per square foot.
The northern New Jersey inventory will get another jolt later this year after OfficeMax completes closures of four locations along the corridors totaling almost 93,000 square feet
as part of a plan announced in January to shutter 110 under-performing stores nationwide.
Earlier this month, Huttig Building Products, one of the largest domestic distributors of millwork, building materials and wood products committed to 125,000 square feet
of space for its first distribution center in Long Island at 110 Plant Avenue in Hauppauge, NY.
After exceeding the 2,000 square feet
in the first quarter, the average size of a loft unit sales fell for the second consecutive quarter to 1,582 square feet
During the first half of 2005, 12.3 million square feet
of leases were executed, which is on pace with totals recorded last year.
of Cushman & Wakefield, Inc., leased the entire 25th and 26th floors comprising 28,368 square feet
Sublease space offered on the market continues to fall at a steady pace, ending the first quarter at 96.0 million square feet
. This is down from the peak of 146.5 million square feet
three years ago but still about three times the late-1990s average when dot-com-mania drove frenzied demand.
Among Class A buildings in Stamford, 180,183 square feet
were leased this quarter compared to 152,217 square feet
last quarter and 95,733 square feet
in the first quarter of 2004.
At Aviation Plaza, which Levin leases and manages on behalf of SSR Realty Advisors, 8,350 square feet
was leased to Southern Smokehouse, which joins restaurateurs Boulder Creek, Appleby's, Checkers and Starbucks.
Other large-scale transactions consummated within the portfolio included Decor Holdings' commitment of 48,000 square feet
of space at 60 Oser Avenue and Tiffen's 37,500-square-foot lease at 90 Oser Avenue in Hauppauge, NY; Deutsch Relay's 36,000-square-foot lease at 55 Engineer Road in Hauppauge; Blue Cross/Blue Shield's 33,650-square-foot lease at 25 Orville Drive in Bohemia, NY; and PCI's 32,000-square-foot commitment at 140 Wilbur Place in Bohemia.
The firm will lease approximately 2,200 square feet
; Noted, LLC is leasing approximately 1,000 square feet
; Personalized Monograms, which leases 1,250 square feet
, has been a Navy Yard tenant for ten years signed a five-year lease renewal.
Futterman & Associates, LLC has been selected as retail leasing consultant for more than 1.5 million square feet
of retail space in three separate large-scale mixed-use developments.
law firm, Kirkland & Ellis LLP has expanded and extended its office lease at Citigroup Center, 153 East 53rd Street, to more than 212,000 square feet
comprising seven full floors in the signature tower.
The company owns and operates seven properties comprising more than 2.1 million square feet
in both counties.