New Hope Fertility Centers Leases 74,500 SF at 4 Columbus Circle
What started as a sublease has resulted in a long-term direct lease with the building owner GLL Real Estate Partners.
NEW YORK CITY— New Hope Fertility Center recently signed a deal for 15 years at 4 Columbus Circle. The medical practice renewed its original 37,670 square-foot lease at the property and also doubled its footprint, signing a new deal for 36,835 square feet for a total of 74,505 square feet. New Hope will now occupy the second through the fifth floors at the eight-story building.
They plan to move into their new space in the second quarter of 2019. While the clinic originally occupied the third and fourth floors subleased from Steelcase, their relationship with the building owner GLL Real Estate Partners, a member of the Macquarie Group, has deepened and expanded.
CBRE’s Anthony Dattoma, Ken Meyerson and Zach Weil represented New Hope in the lease negotiations. David Hollander and Tim Freydberg, with CBRE, acted on behalf of the landlord, GLL.
“Dr. John Zhang, the founder, CEO and medical director of the practice, is a pioneer in fertility care and at the forefront of new medical breakthroughs within the field,” says Dattoma. “The clinic’s expansion at 4 Columbus Circle will help to accommodate its growing base of patients in New York City.”
“GLL is delighted to now have restructured 4 Columbus Circle within a 12-month period, thanks to the renewal and expansion of New Hope and the renewal of Steelcase,” adds Hollander. In addition to Steelcase, Duane Reade is located in the ground-floor retail space.
GLL bought the 102,720 square-foot building that was constructed in 1985 from Cerberus Capital Management. The real estate firm acquired the building in July 2011 for $96.5 million according to Real Capital Analytics.