Jones keeps up with 83,000 s/f on Broadway.In an effort to consolidate operations located in the garment district The Garment District is a store in Cambridge, MA and is well known for its Dollar-A-Pound clothing store. The Garment District started out as an offshoot of Harbor Textiles, a textile company which produced wiping cloths for industry that began in the late 1940s. and move certain operations closer to its corporate headquarters at 1411 Broadway, Jones Apparel Group's moderate division has subleased 82,702s/f of space at 498 Seventh Avenue. Jones Apparel is consolidating a number of offices, including space it occupies at 463 Seventh Avenue, into the new location. The CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. team of Robert Martin, Lewis Miller, Ken Meyerson and Michael Wellen arranged the long-term 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. on behalf of Jones Apparel Group Jones Apparel Group, Inc., a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The company also markets directly to consumers through our chain of specialty retail and value-based stores, and operates the Barneys New . Cushman & Wakefield represented the sublessor, Oppenheimer Funds, Inc. in the negotiations. According to Mr. Martin, "This transaction allowed Jones Apparel to relocate and consolidate several locations into one of the Garment District's most prominent properties and have all its employees situated a short distance from its corporate headquarters. The space features a move-in condition, high-quality installation which previously housed Oppenheimer Funds, a division of Mass Mutual." Mr. Meyerson added that Jones was bale to lock-in attractive sublease rents and obtain certain expansion options from Mass Mutual, which made the decision to relocate much easier. In addition, Jones will be subleasing approximately 50,000 square feet that it leases at its current location at 463 Seventh Avenue. Owned by George Comfort & Sons, 498 Seventh Avenue is a 25-story, 880,000-square-foot office property designed by Walter M. Mason and built in 1920. The property was completely modernized through a major capital improvement program. Improvements included a totally renovated lobby, new elevator cabs and double insulated operable operable /op·er·a·ble/ (op´er-ah-b'l) subject to being operated upon with a reasonable degree of safety; appropriate for surgical removal. op·er·a·ble adj. thermopane windows. In addition to Jones Apparel, the property is home to other high-profile tenants including Bates Bates , Katherine Lee 1859-1929. American educator and writer best known for her poem "America the Beautiful," written in 1893 and revised in 1904 and 1911. Worldwide, Hazen & Sawyer, PC, Interpublie Group and Victoria's Secret. |
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