Greiner-Maltz and Cassidy Turley Fill 600,000 Square Feet of Brooklyn Army Terminal
Long Island City, NY, April 8, 2013 – Greiner-Maltz and Cassidy Turley today announced their leasing success at the Brooklyn Army Terminal (BAT) in Sunset Park, Brooklyn. After winning the leasing assignments in late 2011 and 2012, the two real estate firms have been working closely with New York City Economic Development Corporation as the exclusive agents for the City’s BAT, a former Army hub from which 3 million soldiers, including Elvis Presley, embarked on military missions. So far, their industry expertise has filled close to 600,000 square feet at the terminal, bringing in scores of diverse corporate tenants and hundreds of jobs to the area. BAT is now over 97 percent leased to approximately 90 tenants, and it is anticipated that within a few months, the remaining properties will be leased, giving BAT an occupancy rate of 100 percent, expressing Greiner-Maltz’s and Cassidy Turley’s commitment to bringing businesses back to Brooklyn.
The leasing efforts at BAT have been led by Sharone Levy, Executive Managing Director at Greiner- Maltz, and Director of Leasing at BAT, who has singlehandedly consummated the transactions of the past sixteen months. Levy has brought in over 26 tenants and an estimated 600 jobs to the neighborhood. The terminal, with asking rents of $7.50-$13 per square foot, has proven to be an attractive option for some of the city’s most promising operations.
Beginning his 10-year lease in 2013, Chocolatier Jacques Torres is one of BAT’s newest tenants. After over a decade of manufacturing in DUMBO and Manhattan, the company is transporting its manufacturing operations to BAT’s expansive 40,000 square foot location, yielding a number of employment opportunities for the area.
Also coming to the BAT in 2013 is Riva Precision, a jewelry manufacturer and a New York City stronghold, having operated for 25 years throughout Brooklyn, Manhattan and Queens. Its newest location at BAT represents its largest to date, with 37,500 square feet of space to expand its manufacturing operation and add to its 100-person payroll.
Still in its first year at BAT is UrbanGreen, a local furniture design and manufacturing company occupying nearly 20,000 square feet of factory space and a show room. Specializing in eco-friendly home designs, UrbanGreen represents the latest trends in manufacturing with its sustainable practices and custom options targeted toward urbanites interested in supporting local design.
The leasing agents are currently looking for more ways to expand and target modern businesses, and with an anticipated 100 percent occupancy rate within the next few months, they look forward to contributing to a manufacturing revival in Brooklyn.
Since 1953 Greiner-Maltz has been engaged exclusively in the leasing, selling, appraising and managing of industrial, commercial, and investment property in Manhattan, Brooklyn, Queens, Long Island, New Jersey, Westchester, and Connecticut. The firms five offices are actively managed by Principals: John Maltz and Sharone Levy in Brooklyn and Queens; Swain Weiner, metro area investments; Tom Attivissimo in Long Island, Raymond Musalo in New Jersey, and Ayall Schanzer in Westchester. www.GreinerMaltz.com
Greiner-Maltz is one of the oldest established commercial-industrial real estate brokerage firms in the New York City Metro market having opened up its first office in Long Island City in 1953. With 3 offices, each operated by a principal. Greiner-Maltz is focused on adding value to New York City based enterprises by tracking the availability and occupancy of over 600,000,000 SF of industrial space in the counties and boroughs of Nassau, Suffix, Brooklyn, Queens, Bronx, Bergen, and Passaic. Greiner-Maltz is affiliated with over 1,200 brokers worldwide through their individual membership in the Society of Industrial and Office realtors of which John Maltz and Bill Greiner are designated members. The name Greiner-Maltz has become synonymous with commercial and industrial real estate in the New York Metro market through our belief that we create value for our clients, one transaction at a time. To learn more about Greiner-Maltz visit our website at www.greinermaltz.com.
ABOUT CASSIDY TURLEY
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients— from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook to learn more about NYCEDC projects and initiatives.