50,000 s/f lease reflects healthy Brooklyn market.In one of Brooklyn's largest office leases in 2004, fast-growing adj. 1. tending to spread quickly; - used mostly of plants. Adj. 1. fast-growing - tending to spread quickly; "an aggressive tumor" strong-growing, aggressive managed care provider Health Plus has signed a 50,000 s/f long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. lease at Renaissance Plaza that maintains the building's occupancy level at 100 percent. The new lease, for the entire seventh and 26th floors, will enable Health Plus to consolidate its offices in a premier headquarters location from two separate addresses in Brooklyn. The company plans to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to Renaissance Plaza, at 335 Adams St., from nearby 195 and 205 Montague St. It is expected to move during the first quarter of 2005. Cushman & Wakefield real estate professionals Glenn Markman, executive director, and Danielle Zimbaro, associate director, were the exclusive leasing representatives for the building's owner, Muss Development Co., and acted as the sole real estate advisers on the Health Plus transaction. "We are very pleased to welcome Health Plus to Renaissance Plaza," said Joshua Muss. "The continuing pattern of full occupancy underscores the validity and importance of bringing this premier development top downtown Brooklyn Downtown Brooklyn is the third largest central business district in New York City (following Midtown Manhattan and Lower Manhattan), and is located in the ." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cushman & Wakefield's Mr. Markman, the lease indicates continued strong demand for high quality office space in downtown Brooklyn. "This follows a trend of strong demand for class-A space in Brooklyn," Mr. Markman said. "Renaissance Plaza represents the kind of high-quality space that is in demand and there is no question that its quality, location and downtown amenities are major reasons why it is fully leased." At the end of the third quarter of 2003, according to Cushman & Wakefield research, Brooklyn's 10.2 percent vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. remained the second lowest in the nation behind only Washington, D.C. Built by Muss Development Co. and completed in the late 1990s, Renaissance Plaza is a 32-story, 1.3-million-square-foot mixed-use complex in downtown Brooklyn. |
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