Lincoln Building bags another high-profile financial tenant.
Represented by Stephen Berliner of GVA Williams, the firm leased the 12,386 s/f block to house its headquarters, currently located at 757 Third Avenue.
"This lease signing is an outgrowth of ownership's and management's initiative to attract larger, creditworthy tenants to the building," says Beissel. "The initiative, launched in 2003, comprises a $55 million-dollar capital improvement program, tenant and broker appreciation programs, and managerial responsiveness."
High-profile firms have taken note, he continues. "Besides Bennett Lawrence, our tenants now include Bear Stearns, EDO Corporation (NYSE: EDO), Sun Life Financial (NYSE: SLF), The Royal Institute of Chartered Surveyors, Thai Airways International, and the tourism departments of The Bahamas and The Turks and Caicos Islands, to name a few."
Bennett Lawrence Management is a performance-driven investment management firm that implements the time-tested growth investment philosophy of its chief portfolio manager, Van Schreiber. The company, which is committed to fundamental security analysis, conducts its own primary research.
The Lincoln Building has so far completed $43 million of enhancements and an additional $12 million has been allotted for further enhancements. Part of the W&H Properties portfolio, The Lincoln Building is owned by Lincoln Building Associates, L.L.C., a partnership led by Peter L. Malkin.
"The building has been under the same solid ownership for over half a century, which gives it the financial stability that is one of its most attractive features," says Mr. Beissel.
Available space at The Lincoln Building ranges from partial floors of 1,200 to 7,500 rentable square feet.
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|Publication:||Real Estate Weekly|
|Date:||Aug 9, 2006|
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