EDGE Management appointed agent for Deegan Gateway.

The new ownership of Deegan Gateway, a 432,000-SF commercial loft building adjacent to the Major Deegan Expressway and less than 20 blocks south of Yankee Stadium, ha. appointed EDGE Management LLC as exclusive leasing and managing agent for the property. EDGE Management is charged with marketing 85,000 SF of contiguous commercial loft space.

Deegan Gateway is owned by R Squared EDGE, a strategic joint venture of R Squared LLC and EDGE Partners LLC, which invests in retail, residential, storage, commercial loft and hotel properties in the New York Tri-State area.

EDGE Management has moved quickly in executing ownership's repositioning plan by establishing an onsite management and leasing office--the first time one has been in place in the property's history. "We will maintain the on-site office to help meet the operational requirements of the building, to be responsive to the needs of our tenants, to enhance our presence in the community and to facilitate the marketing and leasing of any vacant space," said Edward Gellert, managing member of R Squared EDGE.

Deegan Gateway is one of the largest commercial loft buildings in the Bronx and is situated at the epicenter of seven major bridges, five accessible thoroughfares and three rail systems--including Metro North, Amtrak and the 4 & 5 subway two blocks away--from its address at 385 Gerard Avenue. A true gateway to the business community, Deegan Gateway already boasts tenants such as the Hospital of Special Surgery, Lenox Hill Hospital, Memorial Sloan-Kettering, and the Metropolitan Museum of Art, which all maintain storage and distribution facilities within the property. The 12-story building has four loading docks, six freight elevators, a separate passenger elevator and an adjacent surface parking lot. Deegan Gateway is located in both the NY Empowerment Zone and the NY State Economic Development Zone.

Leasing opportunities include 11,550 SF on the ground floor with a dedicated loading dock and two freight elevators; an additional 73,500 SF is available throughout the building. The property boasts 36,000-SF floorplates with up to 200 lbs./SF and windows on all four exposures--many featuring magnificent views of the Manhattan skyline and Yankee Stadium.

The property's location along the I87 corridor is convenient to Manhattan, Queens, New Jersey, Westchester and Upstate New York, making Deegan Gateway an ideal choice for storage/warehousing, aggregating/supply distribution or disaster recovery use. In addition, Deegan Gateway's proximity to Bronx County's court system provides a unique opportunity for a variety of legal/law records and file storage uses.

"Our primary focus is to put Deegan Gateway back on the radar screen of corporate America and of the real estate brokerage community. We are marketing an asset that can service industry types across the board and will have the ability take advantage of its surroundings throughout time," said Bob Gellert, who is ownership's on-site executive responsible for all marketing, leasing, management and tenant relation initiatives. "We are excited about the opportunities to bring corporate tenants to Deegan Gateway, which combines clean, open space with terrific location, access and visibility".

For information regarding Deegan Gateway or to tour the property, contact Bob Gellert of EGDE Management at 718-585-5500. You can also view the asset's website at deeganateway.com.