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State Farm leases 12,000 sf at Teleport II on Staten Island.

State Farm Mutual Automobile Insurance Company has signed a major lease at Staten Island's 160,000-squarefoot Teleport II, a development of Teleport Associate,. The building is now 40 percent leased.

The firm will be relocating to Teleport II from facilities in Staten Island and Brooklyn. The 12,000-square-foot lease is for five years. State Farm will occupy a portion of the first and second floors.

Approximately 108,000 rentable square feet remain available for lease in this newly completed structure designed by Rotwein & Blake. Teleport II, with a dramatic three-story atrium, offers 16 feet slab-to-slab heights, 30 feet x 30 feet bay sizes, and 125 pounds per square foot floor loads in addition to a full range of New York City tax abatements and exemptions.

State Farms joins American Express and Metropolitan Life Insurance Company at Teleport II. Other Teleport tenants include Teleport Communications Group, Dun & Bradstreet, Allstate Insurance, Merrill Lynch, Nomura Securities, Pagenet, and The Port Authority of New York and New Jersey.

Franklin Speyer, John Peters and Richard Kennedy of Cushman & Wakefield, Inc. represented the ownership, Teleport Associates, as leasing agents. State Farm was 'represented by Rob Deetz, Administrative Service Manager, State Farm Insurance Companies.

Teleport Associates, a joint venture of Murray Construction Co., Inc. and Silverstein Properties, was represented by Jeffrey J. Siegel, executive vice president of Murray Construction Co., Inc. The attorney for Teleport Associates was Andrew Schwab, Esq. of Lester Schwab Katz & Dwyer.
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Title Annotation:State Farm Mutual Automobile Insurance Co. leases commercial space in Teleport II office building development in New York, New York
Publication:Real Estate Weekly
Date:Jun 16, 1993
Previous Article:To decontrol or not to decontrol?
Next Article:AmEx opens retail locale at 1185 Ave. of Americas.

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