Six Nonprofit Foodservice Tenants Lease 34K SF at 520 Eighth Avenue – Business Observer

GFP Real Estate saw an influx of new tenants to 520 Eighth Avenue throughout March, with 34,012 square feet of office and retail space leased to six different businesses.

Matthew Mandel of GFP Real Estate represented the lessor internally while JLL, Newmark and MBRE Advisors negotiated on behalf of the various tenants. Asking rents were in the range of $40 for office and around $150 per square foot for retail, per GFP.

“520 Eighth Avenue continues to attract top creative and professional services companies, non-profit organizations and entertainment-related tenants looking for more space in a quality building,” Mandell said in a statement. communicated.

General vision servicesa national eye care provider, signed a short-term lease for 13,600 square feet of office space, with Mandell negotiating both sides of the deal.

Non-profit organisation INCLUDEnyc signed an agreement for 9,800 square feet on the 25th floor with Jonathan Franzel and Jason Greenstein of Newmark representing them.

“INCLUDEnyc is a fantastic organization with a core mission, and we believe they will continue to thrive in their new space,” Franzel said in a statement. “The property has done a great job attracting nonprofits and social advocacy organizations to 520 Eighth Avenue.”

Engineering and construction company Guth Deconzo Consulting Engineerssigned a 10-year lease for 4,938 square feet on the 22nd floor with representation from Michael Bolton MBRE advisors.

Printing and IT provider Kyocera Document Solutions New York Subway took 3,200 square feet on a three-year lease for its general offices on the 23rd floor. Robert Schmidt of JLL represented the tenant.

Soma salads has committed to a 15-year lease for 1,057 square feet of commercial space on the ground floor with a representation of Andrew Taub and Ben Birnbaum of Newmark.

And Carved meat and Lazzaro rotisserie agreed to a 15-year lease for 1,417 squares of retail space offered at 520 Eighth Avenue. Taub and Birnbaum also represented this restaurant in the agreement.

JLL and MBRE Advisors did not immediately respond to a request for comment.

The 26-story, 860,000 square foot office tower was built in 1926 in the Garment District.

Marc Hallum can be contacted at [email protected].