News: Brokerage

Metropolitan Realty Associates renews 20,000 s/f lease for T-Mobile

An international telecommunications firm has renewed its lease and expanded its space used for an engineering center at Metropolitan Realty Associates' Sunrise Business Center. Wireless service provider Omni-point Communications Inc., which does business as T-Mobile, signed a lease for 20,000 s/f at the 356,000 s/f, three building office complex at 3500 Sunrise Hwy. T-Mobile USA Inc., based in Bellevue, Wash.,is the U.S. operating entity of T-Mobile International AG, the mobile communications subsidiary of Deutsche Telekom AG. Deutsche Telekom is one of the largest telecommunications companies in the world, with nearly 120 million customers worldwide. "T-Mobile's decision to remain - and expand - at the Sunrise Business Center is indicative of the value that our property offers and the high level of tenant services that we provide," Joseph Farkas, president of Garden City-based Metropolitan Realty Associates LLC, said. Metropolitan recently completed a multimillion dollar interior renovation of the property, including public areas, the River Cafe dining area and internal systems. Additionally, Metropolitan has begun redevelopment for office use of a 136,000 s/f former warehouse building in the complex. Paul Ferraro of Johnson Controls Real Estate Group represented T Mobile in lease negotiations, while Metropolitan was represented by its exclusive leasing agents, the CB Richard Ellis Inc. team of Raymond Ruiz, Bruce Nelson, Marianne Dugan and Ryan Blaney.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of