Feet accompli as W&H leases over 800,000 r/s/f.Properties in the W&H portfolio experienced high leasing activity in 2004, totaling more than 800,000 rentable square feet, with more than $5.5 million in commissions paid. Every property within the portfolio reported strong performance: * The Lincoln Building The Lincoln Building is an office building located on 60 East 42nd Street in New York City, opposite Grand Central Terminal. It was completed in 1930. The architect was James Edwin Ruthvin Carpenter. It is 673 feet (205 meters) tall with 53 stories and built in neo-gothic style. : leased 344,895 rsf and paid $915,192 in commissions * 1359 Broadway: leased 177,078 rsf and paid $1,619,942 in commissions * The International Toy Center: leased 96,845 rsf and paid $812,000 in commissions * 250 West 57th West 57th can refer to:
* 501 Seventh Avenue: leased 66,275 rsf and paid $462,000 in commissions "These results met our expectations as to what we could achieve by branding our portfolio of upgraded office and showroom properties," says Anthony E. Malkin, president of Wien & Malkin Supervisory Services, the asset manager for the W&H portfolio. "While the brand was only two months old at the beginning of 2004, we delivered a clear message and a quality product to the market. We expect even better occupancy in 2005. We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by this level of success in such a short period of time, but by no means satisfied. Higher occupancy and higher rents are our goals." Highlights of the year included lease signings and expansions by such companies as Pfizer, EDO Corporation EDO Corporation (NYSE: EDO) is an American company that designs and manufactures products for defense, intelligence, and commercial markets, and provides related engineering and professional services. It employs 4,000 people worldwide and had revenues of $715 million in 2006. and Sun Life Financial (The Lincoln Building); Parkinson's Disease Parkinson's disease or Parkinsonism, degenerative brain disorder first described by the English surgeon James Parkinson in 1817. When there is no known cause, the disease usually appears after age 40 and is referred to as Parkinson's disease. Foundation and I-Deal (1359 Broadway) and GUND[TM] and Bandai (International Toy Center). "Our turnkey See turnkey system. leasing strategy has proven to be a great attraction to brokers and tenants, as evidenced by the tremendous number of new leases we have concluded with the participation of the outside brokerage community," comments Mr. Malkin. Meanwhile, progress on a $257 million capital improvement program continued at a rapid pace as Wien & Malkin supervised CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) , Cushman & Wakefield and Newmark, which took over the buildings' leasing and management responsibilities from Helmsley-Spear in 2003. Also launched during the year were Show, Lease & Win[TM] and Refer, Lease & Win[TM], incentive programs for brokers and tenants. Brokers continued to receive 100% payment of commissions immediately upon signings. "It's been an undeniably good year," says Malkin, "however, we are just at the beginning of producing the kind of results we aspire as·pire intr.v. as·pired, as·pir·ing, as·pires 1. To have a great ambition or ultimate goal; desire strongly: aspired to stardom. 2. towards, and we look forward to more progress in 2005." W&H Properties offers 100% commissions on lease signing. |
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