Work is underway on the new data facility in Orangetown, NY.

Bloomberg L.P. has signed a lease for a new 131,805 s/f build-to-suit data center facility in Orangetown, NY. The single-tenant turnkey data center is being developed by a joint venture partnership of Russo Development and Sentinel Data Centers, which will retain ownership of the property.

“We are very pleased to welcome Bloomberg to Orangetown,” said Andy Stewart, Supervisor for the Town of Orangetown. “Bloomberg’s decision to locate here shows that Orangetown is back on track and able to work effectively with investors to meet our community’s needs for appropriate commercial development, jobs and a solid tax base.”

Yesterday the Rockland County Industrial Development Agency endorsed Orangetown’s resolution to provide the project with a partial tax abatement package. Bloomberg L.P.’s lease agreement is conditional upon final authorization by the County Executive.

“Bloomberg conducted a long and extensive search to find a location that meets all requirements for our latest data center, and this site in Orangetown checks all the boxes for us,” said Vladimir Kliatchko, Global Head of Research and Development at Bloomberg. “We have partnered with an experienced data center developer in Russo/Sentinel and we are confident they will deliver a first-class facility.”

Harriet Cornell, Chairwoman of the Rockland County Legislature and board member of the Rockland Economic Development Corporation, applauded the announcement. “This is wonderful news for our County and exactly the kind of global firm which is perfect for Orangetown. Bloomberg L.P. looked at over 100 sites in New York and New Jersey before choosing this one. That tells you loud and clear that Orangetown is a prime location for data center development. Congratulations, Orangetown.”

The facility, which will consist of a single-story raised floor environment and infrastructure to provide in excess of 7MW of critical capacity, is planned to come online in the middle of 2014. The property was purchased by Russo Development in 2009 and was pad-ready for vertical construction prior to lease signing.

Having previously partnered on a multi-tenant data center in Somerset, NJ, this project is the second joint venture between Russo Development and Sentinel Data Centers.

“We are pleased to have the opportunity to provide an optimal environment for Bloomberg’s innovative technologies,” said Edward Russo, President and COO of Russo Development. “This site provides ideal access to Manhattan, robust power sources, multiple telecommunication carriers, and opportunities for state and local tax incentives. Additionally the town of Orangetown, led by Supervisor Andy Stewart, has been a great partner throughout this process. The Town stands behind its commitment to economic growth.”

“We are thrilled to be again working with our friends at Russo Development on this fantastic project” adds Josh Rabina, Co-President of Sentinel Data Centers. “The Bloomberg critical facilities team is truly top notch, and we look forward to delivering them a world class turn-key facility in Orangetown.”

Michael J. Pembroke, Senior Vice President of Leasing and Marketing for Russo Development, represented the ownership in the lease.

By Holly Dutton

LAS VEGAS: Brick and mortar stores don’t need to worry about online retailers, they just need to join their ranks.

In 2012, online retail accounted for six percent of all retail sales, compared to traditional retail stores which accounted for the other 94 percent, said Marianne Wilson, editor in chief of Chain Store Age, at the “Retail: The Next Wave” panel here Sunday, citing numbers by Forrester Research.

“The other side of the coin is that it’s growing at a faster rate,” said Wilson of online retail, adding that Forrester is projecting an increase to nine percent by 2016.

Panelists agreed traditional retail has a lot to learn from the internet. Pictured above l-r: Daniella Yacobovsky, Stephen Gallant of Jos. A Bank and James Tenser of VSN Strategies.

Daniella Yacobovsky, co-founder of online jewelry retailer BaubleBar, said “You’ll die as a retailer” if your company doesn’t get comfortable with social media.

The New York City-based BaubleBar, which began online, transitioned into pop-up stores in Manhattan, which were very successful.

“The web has made the retail world a smaller place,” said Wilson. She cited UK-based TopShop’s entry into the U.S. market with crowds lining the street in Soho for the store’s opening as a sign that shoppers are more informed in today’s market.

Yacobovsky, who started BaubleBar with friend and fellow Harvard Business School classmate, Amy Jain, looked to Amazon.com as a model for online retailing.

With sophisticated web analytics that track shopper’s every move, the company is able to get a clear view of who their customers are. “What they do best is analyze data,” she said.

George Sappenfield, senior vice president of real estate, store planning and facilities with ANN, inc, which owns the Ann Taylor and Ann Taylor LOFT brands, helped to re-invent their brand, including bringing in actress Kate Hudson as a model/spokesperson for the brand and focusing in on their target audience.

The company opened a successful brick and mortar store in the rural northwest Texas town of Lubbock, after tracking online shoppers and finding they had a huge customer base for Ann Taylor LOFT.

Online data has also revealed some not-so-secret truths about this generation’s young people, that many are time-strapped and have short attention spans when it comes to shopping.

“A lot of our (online) orders come in over the evening hours,” said Stephen Gallant, VP of Facilities Development at men’s clothing retailer, Jos. A Bank. The company also has strong online numbers in rural areas where there isn’t a physical store.

FAITH CONSOLO

“I think companies are succeeding that realize where offline fails, where online fails, and how to bridge the gap,” said Yacobovsky.

And in a look to the future, one Seattle retailer is taking online and brick and mortar to the next level, with a completely interactive in-store experience with cutting-edge technology.

Last year, former Amazon executive Nadia Shouraboura founded Hointer, a men’s clothing store where shoppers can use an app on their smartphone in a streamlined process to choose and try on clothes.

When someone sees something they like, they scan it with their phone and when they get to their designated fitting room, the clothes are already there waiting for them, delivered by a sophisticated German robotic system.

In addition to Hointer’s 3,000 s/f pilot location in Seattle, the company has a store in Palo Alto, CA and one more opening in Seattle May 31.

The new entrance at 747 Third Avenue

Jones Lang LaSalle has completed four new, direct leases, totaling 12,508 s/f, for building owner William Kaufman Organization Ltd./The Travelers Cos. Inc. at 747 Third Avenue.

Long Point Capital Inc. leased 3,929 s/f of commercial office space, Reef Road Capital LLC took 3,835 s/f, Fourth Freedom Forum signed for 2,505 s/f and Murex Capital LLC leased 2,239 s/f at the Class A, 403,469 s/f  commercial office building.

The building owner was represented in both transactions by Frank Doyle, vice chairman, along with Cynthia Wasserberger, managing director; Alexis Tener Petrus, vice president; and David Wassel, associate. The team worked closely with Michael Lenchner, vice president and director of leasing, with Sage Realty Corp.

Reef Road Capital was represented by Brian Goldman, executive managing director; and Matthew Lorberbaum, associate director, with Newmark Grubb Knight Frank. Long Point Capital was represented by Craig Lemle, senior managing director, with Studley Inc. Fourth Freedom Forum was represented by Paul Bostick, president, with Brentler Inc. Murex Capital was represented by Paul Walker, first vice president, with CBRE Inc.

“Hedge funds and financial services firms continue to find 747 Third Avenue an excellent place in which to conduct their business, fueling the building’s status as the premier office tower in the Grand Central District,” said Doyle. “The building owners just completed a thorough renovation of the building’s elevator cabs and recently launched a rebuilding program for the exterior plaza.”

Long Point Capital will occupy a portion of the 22^nd floor at 747 Third Avenue, which is located between East 46^th and East 47^th streets. The private investment firm is relocating to 747 Third Avenue from its previous offices at 437 Madison Avenue.

Reef Road Capital will occupy a portion of the 19^th floor at the building. The financial services firm is opening its first New York office at the building.

Fourth Freedom Forum will occupy a portion of the fourth floor at 747 Third Avenue. The global nonprofit organization is relocating to the building from its previous offices at 305 East 47^th Street.

Murex Capital will occupy a portion of the 19^th floor at the building. The financial services firm is relocating to 747 Third Avenue from its previous offices at 880 Third Avenue.

William Kaufman Organization/Travelers recently completed construction of a new sidewalk outside 747 Third Avenue. The project was a crucial step forward for the building owners’ ongoing plaza renovation, which is scheduled to be completed in June 2013.

18 Gramercy Park, a luxury condominium By Zeckendorf Development LLC and designed by Robert. A.M. Stern Architects, hosted a breakfast and preview for Douglas Elliman Brokers and Agents May 15, 2013.  Guests were introduced to the property’s newest model apartment, featuring luxurious interiors and gorgeous views of blossoming Gramercy Park.

Originally built in 1927, 18 Gramercy Park is a newly designed modern classic that evokes the luxury and grandeur of some of New York’s finest cooperative landmarks in a historic downtown setting.

The property is comprised of 14 full-floor condominium residences, a duplex penthouse, and a magnificent maisonette. Each residence offers incredible park views from nearly every room and a key to Manhattan’s only private park.

◄ Back

Next ►

Picture 1 of 5

Cameron Stewart, Suzanne Johansson and Samuel Kelley

While enjoying the  view of the Empire State Building, more than 70 real estate professionals came out to enjoy hors d’oeuvre and cocktails  during REBNY’s Commercial Brokerage Division Finance Committee Cocktail Reception at 230 Fifth Avenue Rooftop Lounge. Attendees socialized and chatted about the current market while enjoying the pleasant spring weather and one of the best rooftop views in the city.

REBNY gives a special thanks to venue sponsor Signature Bank. Also, much gratitude to the other event sponsors CBRE; Estreich & Company, Inc.; The Singer and Bassuk Organization; and Prudential.

Photos by Desiree Jones, Nicole Lesson and Jeanne Oliver-Taylor.

◄ Back

Next ►

Picture 1 of 13

John Pollis, II, John Pollis II Realty Corp. & George Klett , Signature Bank

]]> http://www.rew-online.com/2013/05/22/rebny-finance-committee-cocktail-reception/feed/ 0 http://www.rew-online.com/2013/05/22/rebny-finance-committee-cocktail-reception/ http://feedproxy.google.com/~r/RealEstateWeekly/~3/ubbZDnRbKZk/ http://www.rew-online.com/2013/05/22/bakery-chain-expanding-in-nyc/#comments Wed, 22 May 2013 16:15:03 +0000 REW Staff http://www.rew-online.com/?p=14906 Tweet

By Holly Dutton

Maison Kayser is rising in New York.

The baker is planning a nationwide expansion

The French gourmet bakery chain already has a 4,000 s/f retail store on 74th Street and 3rd Avenue, but the brand will be opening three more locations in the Midtown West and Flatiron neighborhoods, said Paul Berkman, co-head of NY retail at Jones Lang LaSalle, who represents Kayser.

“They’re going big,” Berkman told Real Estate Weekly at the ICSC REcon 2013 Conference in Las Vegas Monday afternoon. “They want to bring quality bread to America.”

The bakery and cafe serves a variety of French cafe fare and pastries, but is famous for its handmade bread.

He added that the company is also negotiating for a lease on the Upper West Side.

The company is looking at Washington, D.C. for future locations as well as nailing down a 5 year plan of 150 locations and a national presence.

Back in March, Kayser announced that their Upper East Side location was the official bread supplier to top-rated Midtown restaurant Le Bernadin.

Berkman, an attendee of ICSC REcon for the past 15 years, sees the conference as ” a real opportunity to brand.”

“It’s more about having an opportunity to be more aggressive,” he said. “It really allows you to move a deal ahead and create momentum.”

With rumors circulating that the number of attendees this year is at the highest since 2007, Berkman sees a positive future.

“I think the rebound is strong,” he said. “I’ve seen dramatic increases in sales with clients.”

Berkman said he’s seeing rents well into the $1,500 to $2,500 p/s/f range, and sees the Times Square and 34th Street retail areas having a “major uptick in desire.”

JLL is marketing a 3,300 s/f retail space on 5th Avenue across from Rockefeller Center that he believes “will be filled soon.”

New Jersey – May 22, 2013 — Commercial mortgage brokerage firm Eastern Union Funding announced that it has arranged approximately $68 million in financing for commercial real estate properties in New Jersey.

Select transactions include:

●      $18.6 million for the purchase of 10-building multifamily portfolio, comprised of 306 total units, in Jersey City, NJ, on a 3+3+3 year term, at 3.25 percent, and a 30 year amortization. Ira Zlotowitz and Michael Muller of Eastern Union arranged the transaction.

●      $11.5 million for the refinance of a 152-bed nursing home in Carneys Point, NJ, on a 5 year term, at 4.75 percent and a 30 year amortization. This deal closed in only 30 days. Shaya Ackerman of Eastern Union arranged the transaction.

●      $4.9 million for the refinance of a 44-unit mixed-use property in Jersey City, NJ, on a 7 year term, at 3.625 percent and a 30 year amortization. Eli Breiner of Eastern Union arranged the transaction.

Esen Edip, President of Titles of New York, along with Guaranteed Rate (formerly known as The Manhattan Mortgage Company), hosted an evening at the elegant The Living Room @ The Maidstone Restaurant in East Hampton. Top real estate brokers gathered to celebrate the recent increased sales activity in the Hamptons market. The evening was full of laughter, light conversation and rejoicing about the record number of closings.

Photos by Richard Lewin

spring-11

◄ Back

Next ►

Picture 1 of 10

Azure, the new condominium at 333 East 91st Street, hosted a Spring Soiree to celebrate reaching the 75 percent sold milestone. Over 125 brokers, buyers and residents gathered  for the event with co-developers, DeMatteis Organizations and Mattone Group, and Douglas Elliman Development Marketing, the exclusive sales and marketing team. Guests filled residence 30AB – a four-bedroom, 4.5-bathroom residence with 10-foot ceilings and panoramic NYC views on the market for $4.795 million – for wine, hors d’oeuvres and music as they toasted to this significant achievement.

10

◄ Back

Next ►

Picture 1 of 10

Azure’s on site sales teamDouglas Elliman brokers David Greczek and Ammanda Espinal.