Hrobsky, Scimo and Johnson of CBRE arrange 54,000 s/f sublease

The School of Visual Arts (SVA), will be adding a new campus location at 335 West 16th St. The fully-accredited college offering undergraduate and graduate degrees, committed to a sublease totaling 54,000 s/f at the property to meet the growing demand for additional classroom and office space. Mike Scimo and Henry Johnson of CB Richard Ellis' (CBRE) Los Angeles office, worked closely with CBRE colleague Dirk Hrobsky from the firm's New York City operations, in arranging the sublease on behalf of the sublessor, ADT Security Services, a division of Tyco International. Johnson and Scimo co-lead an exclusive tenant representation account across the Americas for Tyco International, and all subsidiaries, including ADT Security Services. Neil Lipinski of Colliers ABR acted on behalf of SVA. SVA inked a 14-year sublease for the 54,000 s/f, five-story building at 335 West 16th St., between Eighth and Ninth Aves. In a second transaction, Kobre & Kim LLP, a litigation firm specializing in institutional plaintiffs' litigation and government enforcement defense, has doubled its presence in the city, leasing 40,000 s/f at 800 Third Ave. The law firm previously occupied 20,000 s/f in the property through a short-term sublease. The CBRE team of Ben Friedland and Sacha Zarba represented Kobre & Kim LLP in direct lease negotiations with landlord, Joseph Day. CBRE, an S&P 500 company headquartered in Los Angeles, is one of the world's largest commercial real estate services firms (in terms of 2007 revenue). With over 29,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). 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. In 2007, CBRE was named one of the 50 "best in class" companies by BusinessWeek, and one of the 100 fastest growing companies by Fortune. Please visit our website at www.cbre.com.