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Posted: October 8, 2010
O'Brien of M. C. O'Brien completes two long-term leases, including 19,000 s/f to Crown Ministries; Hebron, Jr. of Ingram & Hebron assists with 12,000 s/f lease to Brooklyn Museum
According to M. C. O'Brien, Inc., it has completed the signing of two long term leases. In the first transaction, the Brooklyn Museum committed to a 12,000 s/f lease in the Bush Terminal/ Industry City Complex, in Sunset Park. The museum will house artifacts and heirlooms of significant historical and architectural value from the city's history. In the second lease, M. C. O'Brien, Inc. represented the landlord in a 19,000 s/f lease of industrial space in the Spring Creek neighborhood, to a local community group.
Brokers from M. C. O'Brien, Inc. have completed close to a dozen leases in the 7 million s/f Bush Terminal Complex located in Sunset Park, in recent years. The deals have been a combination of industrial and office leases. According to Michael O'Brien III, SIOR, CEO of M. C. O'Brien, Inc., "Bush Terminal continues to be a strong option for warehousing and light manufacturing, and with the recent repositioning of two of the complexes buildings for office space, Bush now can provide value conscious tenants, such as non-profits with aggressive rents for newly constructed office space."
In the second lease, M. C. O'Brien, Inc., completed a 19,000 s/f long term lease of a one story building to Crown Ministries International. The building is located at 491 Wortman Ave. in the Spring Creek Industrial Park, and the tenant will be redeveloping this former warehouse into a community center providing numerous services for the neighborhood. Pastor Jonathan Shaw will have a food bank, counseling services, education programs and a house of worship, and said, "Our alternative use of this former factory will benefit the surrounding community for years to come."
O'Brien, along with Robert Hebron, Jr., executive director of Ingram & Hebron Realty, acted as the tenant brokers in the first lease to the museum. O'Brien was the exclusive broker for 491 Wortman Ave., and acted as the sole broker in that transaction.
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