Meister and Schwartzman of Grubb & Ellis act for Sorgente in 5,520 s/f lease to Tomasella

According to Grubb & Ellis Co., it represented Sorgente Group in the lease of 5,520 s/f of retail space to Tomasella U.S.A. at 32 Greene St. in SoHo. The location represents the first area location for the Italian furniture retailer. Jason Meister, associate, Investment Group, and Gary Schwartzman, managing director, Retail Group, facilitated the transaction on behalf of Sorgente, which has been expanding its portfolio of real estate assets in New York and major markets throughout the U.S. Grubb & Ellis represented Sorgente in the acquisition of 32 Greene St. in 2007. "This is a significant retail transaction for the New York City market, as the rent achieved indicates an upward trend for the SoHo retail corridor," said Meister. "The fact that there are so many luxury home furnishing retail tenants in this area of Greene Street make it the perfect home for Tomasella U.S.A." Tomasella has leased the 2,610 s/f ground floor and 2,910 s/f lower level of the newly renovated cast-iron building. The retail ground floor features 34 ft. of frontage, 15-ft. ceilings and skylights spanning the width of the property. Schwartzman said, "By combining and artfully renovating two classic SoHo buildings, Sorgente created spacious loft condominiums and a dramatic new retail space." The Sorgente Group is an owner and investor in New York and other top markets throughout the U.S. and globally. The company recently purchased a majority stake in the Flatiron Building. Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds.