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Galbreath Riverbank arranges sublease.

Galbreath Riverbank served as broker to both parties in a creative transaction that solved the mutual space concerns of two computer companies in New York.

The commercial real estate firm consolidated the service and sales groups of Computerland Corporation into a 42,000-square-foot sublease in space held by Digital Equipment Corporation at 2 Park Avenue. The sublease, which will continue for the remaining five years of the original lease, has an aggregate rental value of over $2 million.

Paul N. Glickman, executive director, and Bruce E. Mosler, vice chairman, both of Galbreath Riverbank, represented Digital Equipment. A. Mitti Liebersohn and Mitchell Konsker, Galbreath Riverbank executive directors, represented Computerland.

The transaction is also a boon to 2 Park Avenue, the 29-story, 960,000-square-foot office tower owned by The Mendik Company. Filling a 42,000-square-foot sublease will help the ownership lease additional vacant space for which it has launched a direct mail campaign.
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Title Annotation:ComputerLand Corp. subleases commercial space to Digital Equipment Corp. at 2 Park Avenue, New York, New York
Publication:Real Estate Weekly
Date:Aug 4, 1993
Previous Article:Merger talks continue.
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