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Torresco leases 13,000 s/f.

Torresco Realty LLC has leased 13,250 s/f at 1735 Park Avenue

The commercial office space went to Interfaith Neighbors Inc. and North General Hospital as exclusive leasing broker for G&J Wholesale Associates, LLC, a division of Doria Enterprises/Graces Marketplace, who designed, built and also occupies part of this location as their corporate headquarters.

Interfaith Neighbors Inc., a non profit, moved its headquarters January 2005 to the third floor at Park Avenue occupying 6,750 s/f at a price of $25 psf--aggregate lease value of approximately $3 million. Torresco Realty LLC represented the building owner as exclusive leasing broker and The Pentucket Company Inc., represented Interfaith Neighbors.

In answer to its expansion requirements, North General Hospital is moving its administrative offices to the second floor of the newly constructed Park Avenue building in March 2005.

Their lease reflects an aggregate rent of $2.6 million dollars--a $22 price per s/f plus escalations for the 6,500 s/f space leased in "as is" condition.

Torresco was the sole broker.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 12, 2005
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