In addition to the First New York agreement, ownership--Brickman Associates and Rockwood Capital Corp.--also reveals that ValueClick took 7,000 sf and 10 existing tenants renewed, some with space expansions. These deals account for a total of 70,000 sf. Rockwood also serves as leasing and management agent for the 275,000-sf, class A building.
Paul Kotcher, who heads up leasing for Brickman, explains that when the joint venture picked up the asset last year, ownership knew it could "take advantage of significant lease rollover" in what he termed an "incredibly tight market."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
