The deal also includes a tenant improvement allowance, according to Studley, whose corporate managing director Lisa Davidson and EVP Richard Schuham represented Clausen Miller. Kim Robare and Menachem Deitcher of CB Richard Ellis represented The Feil Organization, which bought the 794,000-sf building from Metropolitan Life last year in a $258-million deal that involved a New York City asset.
"Clausen Miller benefits from the cost savings of reduced rent and The Feil Organization gains a long-term lease from a credit-worthy tenant," Davidson says.
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