SWIG EQUITIES ANNOUNCES OVER 53,000 SQUARE FEET OF LEASES FOR THIRD QUARTER 2011 IN ITS FiDi PORTFOLIO
“These 14 leases demonstrate the overwhelming support that our properties have in the FiDi office market. Our existing and new tenants continue to demonstrate confidence in our buildings, as evidenced by these lease renewals, expansions and new leases for the third quarter of 2011,” said Mr. Swig. “We appreciate the brokerage community’s continued support and assistance in many of these transactions, and look forward to working together on future deals.”
Numerous leasing transactions were completed within Swig Equities’ New York City FiDi neighborhood properties, which include 5 Hanover Square, 48 Wall Street, 44 Wall Street, 110 William Street and 80 Broad Street.
“There is high demand for our properties and the outstanding commercial amenities and services each of them offers. Our portfolio is very attractive to tenants seeking an office building in a prime business location with strong, experienced management,” said Jonathan Dean, Senior Vice President, Director of Commercial Leasing for Swig Equities.
Of the various leases signed within the Swig Equities portfolio in FiDi, 5 Hanover Square, a 25-story, 325,000-square-foot multi-tenant office building built in 1962 and designed by architect Henry G. Green, was the most active property, with over 26,000 square feet of leases signed. Some of the notable leases at 5 Hanover Square include Eclectic Naturals, Inc. with 6,404 square feet; Jones & Jones O'Connell LLP (represented by Brett Gardner and Josh Winslow of Winslow & Company, LLC) with a new 4,985-square-foot lease; and Rockwell Global Capital, LLC (represented by Gerard Picco and Joseph A. Romano of CRESA Partners) with two new leases totaling 6,260 square feet. Additional new leases signed at 5 Hanover Square include Capital Legal Solutions, LLC (represented by Omar Sozkesen of Prime Manhattan Realty) for 2,510 square feet; Braemar Steege, Inc. (represented by Michael McKenna and Travis Wilson of Newmark Knight Frank) for 2,340 square feet; Allan S. Joseph LLC (represented by Guya Singh Rai of Manhattan Commercial Realty) for 1,865 square feet; and Community Housing Improvement Program (CHIP) (represented by Gabe Isaacs of Sierra Realty Corp.) for 1,730 square feet.
At 48 Wall Street, a 31-story, 303,000-square-foot office building, the Corporate Presence, a provider of lucite products and services to the financial community, (represented by Brian Weld of Cassidy Turley) signed a new 7-year, 6,900-square-foot lease. In addition, Ressler, Inc. (represented by Robert Wizenberg of CB Richard Ellis) signed a 10-year, 6,900-square-foot lease renewal and IAT Reinsurance Syndicate, Ltd. renewed its 4,350-square-foot lease.
Also noteworthy, at 110 William Street, a 32-story, 900,000-square-foot multi-tenant office building, Don Congdon Associates, Inc. (represented by Michael Duncan and John Belitsky of Abraham + Martin) signed a new 4,460-square-foot lease, and Knowledge Delivery Systems, Inc. signed an extension for its 4,170-square-foot lease. In addition, at 80 Broad Street, a 36-story, 400,000-square-foot multi-tenant office building, McCauley Securities, Ltd. extended its 558-square-foot lease.
“With an impressive set of 14 transactions totaling over 53,000 square feet closed in the third quarter of 2011, we are confident in the strength of the current office market and demand for our properties. This growth demonstrates our ongoing enthusiasm towards continued expansion and advancement into the last quarter of the year, preparing us for a strong launch into the upcoming year,” added Mr. Swig.
About Swig Equities
Swig Equities, LLC is a real estate development, investment and management firm based in New York City with offices in San Francisco. The firm is an active purchaser and developer of prime residential and commercial buildings as well as operating companies and securities. Over the past few years, Swig Equities has purchased and/or developed in excess of $3 billion of properties, which includes 110 William Street, a 32-story, 900,000-square-foot commercial office building; 90 Broad Street, a 25-story, 400,000 square foot office building; 48 Wall Street, a 34-story, 324,000-square-foot office building; 80 Broad Street, a 36-story, 400,000-square-foot office building; 44 Wall Street, a 350,000-square-foot office building; 5 Hanover Square, a 25-story, 325,000-square-foot office building; 770 Lexington Avenue, a 20-story, 155,000-square-foot commercial office building in Midtown Manhattan; and 450 Sansome Street, a 140,000 square foot office building in downtown San Francisco.
SWIG EQUITIES, LLC
770 Lexington Avenue
New York, NY 10065
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