Max Capital celebrates banner year.Max Capital Management Corp., a premier independent commercial real estate ownership and investment company, announced that it completed 41 office and retail lease transactions in 2003, comprising 194,000 square feet of space within four Class A buildings in midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Manhattan Manhattan, indigenous people of North America Manhattan (mănhăt`ən), indigenous people of North America of the Algonquian-Wakashan linguistic stock (see Native American languages). . The announcement was made by Mark F. Lauzon Lauzon: see Lévis-Lauzon, Que., Canada. , vice president and director of leasing, who reported that the months of June June: see month. and July were especially active. During that 60-day period, Max Capital completed transactions encompassing 76,000 square feet of office space at 230 Park Avenue, 350 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. and 1440 Broadway. Largest of the transactions were the 64,090-square-foot, 16-year office lease renewal signed by HQ Global Workplaces at 230 Park Avenue, the 25,265-square-foot, 11-year office lease on behalf of Revlon at 237 Park Avenue, and the 20,000-square-foot, 10 1/2--year lease at 1440 Broadway with women's apparel company Cache, Inc. Both the Revlon and Cache transactions were new leases. Max Capital also completed retail leases at 230 Park Avenue for Wachovia Bank and Pacman Cafe, a unique take-out Take-out A cash surplus generated by the sale of one block of securities and the purchase of another, e.g., selling a block of bonds at 99 and buying another block at 95. Also, a bid made to a seller of a security that is designed (and generally agreed) to take the seller out of sushi restaurant. Mr. Lauzon said, "2003 was a banner year. Tenants are taking advantage of market conditions to negotiate rents and terms. Tenant retention is a priority, and we are delighted that 15 of the leases were renewals and seven represented expansions of existing space within our buildings. "That's more than half of our total transactions in 2003." Other prestigious tenants who renewed within the portfolio in 2003 include the University of Notre Dame Notre Dame IPA: [nɔtʁ dam] is French for Our Lady, referring to the Virgin Mary. In the United States of America, Notre Dame ; Morse Williams Company, Inc., investment counselors; Bass Trading, and the Romann & Tannenholz advertising agency. Mr. Lauzon added, "We expect that 2004 will be even a better year for Max Capital--starting with a 22,000 square-foot deal with the Bank of Argentina at 230 Park Avenue--as we work with tenants and brokers alike to attract and retain office tenants. Our focus will be pre-built space, top-notch building security and building management. "This approach to office leasing, coupled with our experience and willingness to understand and meet our tenants' business needs, will make our buildings highly attractive and competitive in the midtown market." |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion