PRESS RELEASE: Avison Young Arranges Two Lease Renewals Totaling Nearly 11,500 Square Feet for Lamar Advertising Company10 Sep 2020
Leading outdoor advertising company will remain in Long Island City warehouse/storage facility and separate Manhattan office location
New York, NY – The New York City office of Avison Young arranged two lease renewals totaling 11,440 square feet for Lamar Advertising Company, one of the nation’s largest outdoor advertising companies.
The transactions included a 9,000-square-foot full-building lease renewal for a warehouse/storage/office facility at 53-17 Vernon Boulevard in Long Island City, and a 2,440-square-foot lease renewal for a sales office on the 8th floor of the Chanin Building at 122 East 42nd Street in Midtown Manhattan.
An Avison Young team including Arthur J. Mirante II, Principal and Tri-state President, and Jean-Philippe (JP) Krahmer, Associate, represented the tenant in the transaction. The owner of 53-13 Vernon Boulevard was represented in-house by Andrew Eberstein, and the landlord at 122 East 42nd Street was represented by a Cushman & Wakefield team comprised of James B. Frederick, Peter Occhi and Gordon Hough.
Mirante said, “We were pleased to have accomplished our client’s objectives in renewing their occupancy in two preferred locations in the New York market.”
He noted that the short-term renewal of the office lease was consistent with the post-COVID uncertainty in the Manhattan market.
About Avison Young
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm's experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors. For more information, please visit Avison Young New York or follow them on Twitter.
Gail Donovan, Senior Director of Marketing, Tri-State
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orTom Nolan | Great Ink Communications