O'Brien of M.C. O'Brien brokers 45,000 s/f lease in East Williamsburg

Michael O'Brien, III, SIOR, of M.C. O'Brien, Inc., brokered the land formerly occupied by IBK Construction. A five-year, 45,000 s/f lease, with renewal options, was negotiated with an operator of the N.Y.C. Marshall's office d/b/a Gotcha Towing. The tenant was represented by Central Park Commercial Realty. The property, located on 60 Central Ave., was originally occupied as a brewery. The 172,000 s/f site was purchased for vehicle storage by a truck leasing company years ago. In the mid-1990s, O'Brien leased 127,000 s/f to Verizon, then d/b/a N.Y. Telephone. The tax lot was divided and O'Brien sold the out portion to IBK in 2004. When they outgrew the location, O'Brien was asked to procure a tenant for the M3 zoned site. It is in an Empire Zone where firms may take advantage of tax and utility reductions and credits for job creation. The rent roll has a value of $1.3 million for the term.