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GVA Williams acquires Associated Realty in NJ.


Audrey Novoa, executive managing director of GVA GVA

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 Williams, has successfully completed subleasing 225,000 square feet at One Park Avenue for the Loews Corporation. New media firm Worldlylnvestor.com recently subleased the final 16,000 square feet Other-tenants subleasing space at One Park Avenue include: Public Service Mutual Insurance Company (96,000 square feet).; HRH HRH
abbr.
Her (or His) Royal Highness


HRH Her (or His) Royal Highness

HRH abbr (= His (or Her) Royal Highness) → S.A.R.
 Construction Corp. (60,600 square feet); ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing.

(2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp.
 Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 Inc. (36,000 square feet); and Data Monitor Inc. (14,000 square feet).

In 1997, John Malino, director of Real Estate for Loews, asked Novoa and GVA Williams to represent Loews in subleasing the 14th and 15th floors of One Park Avenue. After successfully subleasing that 100,000 square feet, Loews decided to consolidate all their offices at 667 and 666 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. . Novoa then subleased the 17th and 18th floors. The final space on the 12th floor contained Loews' main telecommunications switch and became available once that was relocated. The assignment represented an opportunity for Novoa and GVA Williams to assist a large corporate entity in the management of its excess real estate, thereby repositioning a financial obligation into a revenue source.

"The divestiture of this space demonstrates the strength of the sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner.  market in Midtown Manhattan," remarked Novoa. "It is significant to note that the space was taken by new media firms as well as experienced Manhattan tenants."

Audrey Novoa completed the last transaction with the new director of Real Estate for Loews, Jason Boxer.
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Title Annotation:GVA Williams assist Loews Corp. in leasing building
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:May 17, 2000
Words:241
Previous Article:Reckson Associates reports robust Long Island leasing activity.(Reckson Associates Realty Corp.)(Brief Article)
Next Article:Scripps Howard consolidates space.(Scripps Howard Broadcasting Co.)(Brief Article)
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