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1700 Broadway 100 percent occupied.

Following an aggressive leasing campaign by Newmark & Company Real Estate, 1700 Broadway, a 600,000 square-foot Class A office property owned by the Lawrence Ruben Company, is now 100 percent leased.

Three recent transactions brought 1700 Broadway to zero availability: the Hearst Corp. signing for 90,000 square feet; Capital Factors' lease of 19,000 square feet; and Talbots' lease of 8,000 square feet.

Last year, the Lawrence Ruben Company improved and repositioned 1700 Broadway after retaining Newmark as exclusive leasing agent and real estate advisor. The owners modernized the lobby, upgraded all building systems and improved fiber optic capabilities, re-creating 1700 Broadway as a prime turn-of-the-millennium office location.

Noted David Falk, executive managing director and principal of Newmark and the exclusive leasing agent for 1700 Broadway, "The results speak for themselves. 1700 Broadway continues to draw top-tier office tenants with its 'fresh face' and prime West Side/Entertainment District location at Broadway and 53rd Street. This property is a perfect example of what can be achieved when a smart building owner partners with a smart real estate advisor."

"We are delighted with the market's response to the 'new' 1700 Broadway," added Jonathan Mayblum, executive vice president of the Lawrence Ruben Company. "Newmark's work as exclusive leasing agent and advisor at 1700 Broadway helped us modernize and reposition the property to attract excellent tenants. Given the building's standing as a 'first choice' in the market, we now view the impending vacancies by Reuters in 2002 as an opportunity rather than a detriment."
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Feb 16, 2000
Previous Article:Summary judgement and the broker.
Next Article:Legg Mason Real Estate Services' (LMRES).

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