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Globe Street

Office and Retail Leases, Refinancings Lead Deal News This Week

tyler-bennet-258x3005Office and retail leases continued to dominate New Jersey and Pennsylvania market activity in recent weeks, while financial firms took advantage of the market’s appetite for well-collateralized loans to helped clients reposition their financial obligations. Here are some highlights:

Fast-casual sandwich franchise Jersey Mike’s Subs has leased 1,800 square feet at Galloping Hill Center. North Plainfield, N.J.-based Levin Management is exclusive leasing and managing agent for the 68,000-square-foot shopping center. Levin’s leasing representative Marcia Minton negotiated the long-term lease. Gary Krauss of Winick Realty Group NJ served as the tenant’s broker in the transaction.

Buffalo Wild Wings is preparing to open its first location in Mercer County, NJ following the purchase of a former Chili’s location at 3465 US Highway 1 in West Windsor. Winick Realty Group NJ founding partner and senior vice president Tyler Bennett represented AntSul Group in the off-market transaction, which marks Buffalo Wild Wings’ sixth location in New York and New Jersey. Bennett is continuing to work with AntSul Group to find additional Buffalo Wild Wings locations in Staten Island, NY, as well as Hamilton Township and New Brunswick, NJ.

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globe street-071615-Office and Retail Leases, Refinancings Lead Deal News This Week

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

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Deal Tracker

aaron-fishbein-002Eastern European café chain Stolle signed a lease for its first Brooklyn location, securing 550 square feet of ground-floor retail space at 119 Court St. Located on the corner of State Street in Downtown Brooklyn, with 40 feet of all-glass corner frontage, the site was leased for $250 per square foot. The new storefront is a corner division of Tio Pio, the sublessors on the space, who were represented by Winick Realty Group’s Jordan Kaplan and Zach Diamond. Winick’s Aaron Fishbein is Stolle’s exclusive broker here.

For more, download the full article in PDF

globe street-070215-Deal Tracker

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

Globe Street

Deal Tracker

steven-baker-258x300A trio of national tenants has signed leases at 394 Myrtle Ave., located between Vanderbilt and Clermont Avenues in the Clinton Hill section of Brooklyn. Starbucks leased 1,800 square feet at the property while Chipotle Mexican Grill leased 2,000 square feet and Invite Health agreed to take 1,000 square feet. Winick Realty Group’s Diana Boutross represented both Starbucks and Chipotle. The third tenant was represented by Winick’s Robert Heicklen. The realty firm’s president, Steven Baker, exclusively marketed the 4,800-square-foot site for landlord Crescent Properties.

For more, download the full article in PDF

globe street-061215-Deal Tracker

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.

Globe Street

Sales, Leases, and Executive Moves Making News in New Jersey

176 Kindrkamack rdWinick Realty Group’s Urszula Zoltek recently completed two property sales transactions in New Jersey, representing both the seller and the buyer in both transactions.  HSVC Investments LLC sold a mixed-use, three-story building at 21-25 Monroe Street in Passaic to 21, 23 & 25 Monroe Street LLC. The buyer also owns the property next door and decided to purchase the building in order to maintain its condition and preserve the value of both properties. 21-25 Monroe Street includes 12 one-bedroom apartments and four ground-floor retail spaces, each measuring 650 square feet. Currently three of the retail spaces are occupied by local businesses—a computer repair shop, a grocery and deli, and a botanica—while the fourth is currently vacant. The building was sold for $1.075 million and the sale transaction took two months to complete. At 176 Kinderkamack Road in Emerson, Hayden Asset II LLC sold 0.22 acres of land to 182 Emerson LLC for $465,000. The parcel of land is located at the intersection of Linwood Avenue, close to Vilano Elementary School, Emerson Public Library, Emerson Municipal Plaza and a New Jersey Transit Railway Station. The property houses a one-story, 1,600-square-foot retail building, as well as 14 parking spaces. The former home of AJ’s Restaurant, Wacky Burgers and Fries, the retail site is currently vacant and is available for lease.

For more, download the full article in PDF

globe street-033015-Sales, Leases, and Executive Moves Making News in New Jersey

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

Globe Street

Dance Troupe Will Kick Up Heels in New Summit Studio

njdte outdoor Photo Kevin O’ConnellNew Jersey Dance Theatre Ensemble, a dance training center offering advanced ballet, modern and contemporary dance programs for dancers ages 7-18, has signed a lease for a new training facility at 315 Springfield Avenue in Summit, NJ.

Winick Realty Group NJ senior vice president Daniel Spector and his associate Susan Preisler represented the Ensemble, working with artistic director Nancy Turano to find the ideal location.

“Previously, New Jersey Dance Theatre Ensemble shared spaces in several locations throughout the tri-state area,” says Preisler. “What New Jersey Dance Theatre Ensemble was looking for was a home of their own that dancers from all over New Jersey—as well as visiting artists from New York City and around the world—could get to easily. The town of Summit was chosen because of its direct trains to New York City, proximity to Newark Airport, and vibrant and cultural downtown district.”

The 8,800-square-foot built-to-suit space is currently under construction with an anticipated summer 2015 opening. When completed, the facility will feature four dance studios, media library, dressing rooms, storage area for costumes and props, and executive offices. The reception area will also include a retail component where students can purchase specialized dancewear. Finally, the space also has an outdoor garden adjacent to an indoor multi-purpose room/lounge area.

“We are thrilled that Dan Spector and Susan Preisler of Winick Realty were able to locate and secure this jewel of a site for New Jersey Dance Theatre Ensemble’s new home,” says Turano. “They both went above and beyond to find not only the right location but one that actually exceeded every requirement we had. We look forward to expanding our reach and mentorship for young dance artists in our New Summit Home and partnering with a community that already supports culture and excellence.”

George and Marika Paras of Paras & Paras represented the landlord, RBP Associates c/o Bassett Associates.

For more, download the full article in PDF

globe street-030615-Dance Troupe Will Kick Up Heels in New Summit Studio

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

 

Globe Street

Cleeman: CRE Firms Must be Multidimensional

michael-cleeman-print-ver-profile-001The announcement earlier this week that Winick Realty Group was starting a retail investment sales division was accompanied by the appointment of a newly hired executive, Michael Cleeman, to head up the effort as a SVP. GlobeSt.com caught up with the seasoned retail sales broker to learn about the thought process that prompted Winick’s decision and how the division is going to be created in this EXCLUSIVE interview.

GlobeSt.com: Why has the company decided to launch a retail investment sales division?

Cleeman: We want to be a more full service entity to clients, it’s a natural outgrowth of retail leasing. To be competitive in the market today, you need to be multidimensional and we felt that the synergies between leasing and investment sales would help us grow while also helping clients. Our leasing knowledge is helpful on acquisition side.

GlobeSt.com: Are there market conditions at play that made this a particularly opportune time to start a retail investment sales group?

Cleeman: In the current market, our clients need a broader scope of services and knowledge. Clients today want to make more informed and quicker decisions—good deals go fast. As our client firms grow, we want to grow with them.

GlobeSt.com: What makes you suited to running this new effort?

Cleeman: I’ve been in retail investment salesfor over a decade so I’m bringing my knowledge, experience and expertise together with Winick’s breadth of knowledge. We felt it’d be a marriage that makes sense.

GlobeSt.com: As you work to staff up the division, what will you be looking for and over what time period?

Cleeman: We have an amazing culture of young, driven folks who want to beat their peers and I’ll be looking for people like that. There’sno limit to the size of the group but we’ll have different geographic regions represented, like one broker covering Manhattan and some working in the outer boroughs. We will staff up as soon as I find the right people.

For more, download the full article in PDF

globe street-022715-Exclusive Interview with Michael Cleeman

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.