Lease terms were not disclosed; asking rents for comparableproperties in the Grand Central district range from the low- tohigh-$50s per square foot. UGL Equis' Greg Espach, who led the teamrepresenting the commonwealth, says in a release that the renewal"comes at a signal moment in today's real estate market to reduceoccupancy costs and secure the long-term presence of the missionand consulate."
Espach led negotiations on the commonwealth's behalf with UGL'sDaniel Nack. UGL's Dirk Hrobsky and Chris Helgesen providedexecutive oversight in representing the tenant. A CB Richard Ellisteam of Edward Goldman, Scott Gottlieb and Rocco Laginestrarepresented Hiro.
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