NEW YORK, NY (September 07, 2016) – CBRE Group, Inc. today announced that it represented Volvo Car Corporation in the 60,000-square-foot retail lease at 605 West 42nd Street.
CBRE’s Michael Kadosh and Jesse Wolff represented the tenant in the 15-year deal for the ground and lower levels. Volvo’s flagship location will sit at the base of the new 1,175-unit, luxury apartment building, Sky, and has 30-foot ceilings along with an all glass facade.
“With Manhattan’s Far West Side continuing to gain traction, we believed this was the perfect opportunity for Volvo,” said Mr. Kadosh, senior vice president, specializing in retail advisory & transaction services for both tenants and landlords. Mr. Kadosh, who has completed multiple automotive transactions in Manhattan continued, “Sky is truly a magnificent luxury building which aligns very well with Volvo’s brand.”
The building falls within blocks of Times Square, Javits Center and near some of the busiest subway stations in the city including the new 7 subway extension to Hudson Yards. Furthermore, there are more than 6,500 new luxury apartments in the immediate area, generating an incredible amount of daily foot-traffic.
The landlord in the transaction was The Moinian Group.
“We are pleased to have a prestigious tenant like Volvo in our portfolio of properties,” said Gregg Weisser, SVP of Commercial and Retail Leasing for the Moinian Group. “This space is perfect for their needs and we wish them success in their first long-term lease in Manhattan.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
CBRE’s Michael Kadosh and Jesse Wolff represented the tenant in the 15-year deal for the ground and lower levels. Volvo’s flagship location will sit at the base of the new 1,175-unit, luxury apartment building, Sky, and has 30-foot ceilings along with an all glass facade.
“With Manhattan’s Far West Side continuing to gain traction, we believed this was the perfect opportunity for Volvo,” said Mr. Kadosh, senior vice president, specializing in retail advisory & transaction services for both tenants and landlords. Mr. Kadosh, who has completed multiple automotive transactions in Manhattan continued, “Sky is truly a magnificent luxury building which aligns very well with Volvo’s brand.”
The building falls within blocks of Times Square, Javits Center and near some of the busiest subway stations in the city including the new 7 subway extension to Hudson Yards. Furthermore, there are more than 6,500 new luxury apartments in the immediate area, generating an incredible amount of daily foot-traffic.
The landlord in the transaction was The Moinian Group.
“We are pleased to have a prestigious tenant like Volvo in our portfolio of properties,” said Gregg Weisser, SVP of Commercial and Retail Leasing for the Moinian Group. “This space is perfect for their needs and we wish them success in their first long-term lease in Manhattan.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
