In the largest of the three renewals, the Atelier Esthétique Institute of Esthetics signed a four-year extension for its 4,250 square feet on the third and 14th floors. Law firm Waxman and Waxman, PC has 2,500 square feet on the second floor and has renewed through 2014. With 1,200 square feet on the fifth floor, Mag Capital Management is staying put through 2012. Craig Panzirer and Issa Deas handled all of the leases internally for Monday Properties.
Terms of the deals were not disclosed. Asking rents for comparable properties in the area range from $29 to $45 per square foot.
Monday Properties COO Brian Robin says in a release that the flexible floor plates at 386 PAS, along with its access to mass transit and location in "one of the city's greatest culinary neighborhoods," have kept demand strong among boutique service companies. Along with upgrades to the property's entrance, lobby and public corridors, Monday Properties has constructed prebuilt units that will allow immediate move-in for smaller tenants, the release states.
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