The properties involved include the Lefrak Organization's Newport Center, a 400-acre mixed-use community. Specifically, the assignment includes 11,620 sf at Newport Office Center VI. Stone describes the retail setting as a "restaurant row environment amidst more than five million sf of class A office space, more than 5,000 luxury high-rise residential units." The location is also adjacent to the 1.5 million-sf Newport Center Mall.
The second part of the assignment involves some 30,000 sf of space at SJP Properties' Waterfront Corporate Center, a two-building, 1.1 million-sf office complex. Publisher John Wiley & Sons has already moved in as anchor office tenant in one of the two towers, and insurance broker Marsh & McLennan will take over most of the second building early next year.
"We are delighted to be named agents for the retail space at these prime developments," says Stone.
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