David Lebenstein and Michael Rudder of Time Equities represented the sub-tenant
in the transaction, while Jeff Zund of Kenneth Zund Realty Associates represented the sub-landlord.
Financial Federal Corporation, a sub-tenant
of NMSS on the seventh floor, also played an important role in the restacking.
Bill Berkis, of MHP, represented the sub-tenant
in the transaction.
At the same time, its new sub-tenant
, Kramer Levin, which is also consolidating, will return to the market 180,000 s/f at 919 Third Ave.
Dubai Investments Park (DIP), an integrated commercial, industrial and residential community in the Middle East and a wholly-owned subsidiary of Dubai Investments PJSC, has announced that 280 new sub-tenants
have leased premises within DIP between January and April.
Land Rover, Crown Castle Communications, South Warwickshire Tourism and MSX occupied the surplus space.
Future closings are dependent on the ability to negotiate acceptable terms with landlords to terminate the leases for those units, or on the ability to locate acceptable sub-tenants
or assignees for the leases at those locations.
Additionally, the Company plans to review rents at lease renewals to various sub-tenants
and to consider repositioning opportunities for selected properties.