DeLuca of C&W brokers 12,000 s/f lease

According to Cushman & Wakefield, The Jim Henson Co. has signed a new office lease at 37-18 Northern Blvd. The Jim Henson Co. signed a seven-year lease for 12,000 s/f on a portion of the fourth floor at 37-18 Northern Blvd., a seven-story building owned by Acumen Capital Partners. The firm was previously located at 627 Broadway in Noho. James DeLuca of Cushman & Wakefield represented The Jim Henson Co. in its site search and in lease negotiations with the building's ownership. "In moving to Long Island City, The Jim Henson Co. will benefit from the extensive economic incentives related to its relocation, as well as a new, creative and light-filled workspace in an up-and-coming neighborhood adjacent to the film and television studios of the area and still close to the advertising and theatrical centers of Manhattan," said DeLuca, a senior director at Cushman & Wakefield. The new space will house The Jim Henson Co.'s east coast division of Jim Henson's Creature Shop, which provides digital visual effects, animatronic creatures, animation and soft puppets to the international film, television, online and advertising industries. Based in Los Angeles and New York, the shop is known for designing and building some of the world's best-known characters, and has won more than nine Emmy Awards for its work building puppets for "Sesame Street." Built in 1919, 37-18 Northern Blvd. is a 301,000 s/f commercial loft building located on the corner of Northern Blvd. and Steinway St., less than two miles from Manhattan. Acumen Capital Partners acquired 37-18 Northern Blvd. in 2008. Formerly known as the Standard Motor Products Building, the building is currently undergoing a $10 million renovation, which includes new windows, exterior lighting and signage; elevator, electrical and building system upgrades; lobby renovations and the creation of modern common corridors. In addition to The Jim Henson Co., major tenants in the building include high-end accessories designer Eric Javits, telecommunications provider Broadview Networks and Standard Motor Products. Acumen Capital Partners is a private company focused on the ownership of real estate investment properties. Founded by Jeffrey Rosenblum and Ashish Dua, previously partners at Time Equities, Acumen Capital Partners seeks to acquire well-located properties and maximize their value though active asset management, which includes asset repositioning, implementation of a capital improvement program, operating expense reduction, efficient property management and leasing.