Swig Equities Announces Over 271,000 Square Feet in FiDi Leases

NEW YORK, Aug. 24 /PRNewswire/ -- Kent M. Swig, President of Swig Equities, is pleased to announce that the firm has completed 27 leasing transactions in its FiDi (Financial District) commercial office portfolio thus far in 2010, totaling over 271,000 square feet.

"These leases are prime examples of the strong support that our firm has in the FiDi office market. We are thrilled by the confidence that our existing tenants continue to show by virtue of the many lease renewals and expansions already completed this year and greatly appreciate the on-going support from the brokerage community for the new leases completed to date," said Kent M. Swig.

Numerous leasing transactions were completed within Swig Equities' New York City FiDi neighborhood properties, which include 110 William Street, 48 Wall Street, 44 Wall Street, 90 Broad Street, 5 Hanover Square and 80 Broad Street.  

"Each of our buildings provide superb services and amenities which appeal to tenants who desire a prime business location with strong and reliable ownership," said Todd E. Korren, Senior Vice President and Director of Leasing and Operations at Swig Equities.

Of the various leases signed within the Swig Equities portfolio, 110 William Street, a 900,000 square foot multi-tenant office building located in the heart of Downtown Manhattan's Insurance and Financial District  (FiDi) was the most active property, with over 145, 000 square feet of leases signed to date in 2010.  Some of the new leases include the New York Liquidation Bureau (represented by Peter Hennessy and Scott Cahaly of Jones Lang LaSalle) with 116,540 square feet; Chickpea restaurant with 2,600 square feet; and Campbell Solberg (represented by Larry Haber of Colgate Real Estate Advisors) with 4,200 square feet and lease renewals with HSBC Bank (represented by William Melville and Douglas Zinn of Lansco Corporation) with 13,146 square feet; Fed Ex/Kinko's with 4,500 square feet.

Glass Lewis & Co. (represented by Greg Taubin of Studley) and  Validus Services, Inc., expanded and extended leases while Lord Securities (represented by James Searl and Snezana Anderson of CB Richard Ellis) McManus Colura & Richter (represented by Richard Levine and Michael Rizzo of CB Richard Ellis)  and Huntsman Architectural Group (represented by Thomas Kaufman and Rory Murphy of Cushman & Wakefield) all renewed their leases totaling over 40,000 square feet at 48 Wall Street, a 324,000 square foot office tower built in 1927.

At 90 Broad Street, a 25-story 400,000 square foot office building built in 1930 and designed by architects Cook and Cook, over 34,000 square feet of leases were signed.  Renewals include MidVentures, Inc. (represented by Richard Rosenthal of Grubb & Ellis), BPD Bank, Xerox (represented by Thomas Holloran of Jones Lang LaSalle) while Veris Wealth Partners (represented by Rob Corbi of Jones Lang LaSalle) expanded and extended its term.  New leases were signed by and The Flomenhaft Law Firm, CSP, LLC and The National Book Foundation (represented by David Danick of CBC Hunter Realty).

Montecito Advisors signed a new 3,500 square foot lease at 5 Hanover Square, a 25-story 318,600 square foot multi-tenant office building as well built in 1962 and was designed by architect Henry G. Green . In addition, Child Abuse Prevention Program and Intermedia Group/ Vicon Solutions extended their leases.  

Faunus Group International, Inc. expanded its lease at 80 Broad Street, a 400,000 square foot office building.  Other tenants include Vera Institute of Justice, McGivney & Kluger, P.C., Moed deArmas & Shannon, Aegis Communications Group, Inc., First Republic Bank and Vincenti & Vincenti.

"With over 27 deals closed to date and over 271,000 square feet in the first 7 months of 2010, we are optimistic about the strength of the market for our properties. We look forward to building and expanding upon our accomplishments while maintaining our momentum throughout 2010," added Kent M. Swig.  "We are confident that our proven track record, reputation and stabilized portfolio will enable us to successfully navigate through these remaining uncertain times."

SOURCE Swig Equities