RXR Realty ends 2013 with 2 million s/f in lease transactions

For RXR Realty LLC, one of the leading real estate operating and investment company's in the New York Tri-State area, 2013 was another strong year, as it signed new and returning tenants to leases totaling 2 million s/f of office space, according to RXR CEO Scott Rechler. "We have seen the economy start to rebound and that has resulted in increased demand for the highest quality buildings," Rechler said. "Our reputation as solid landlords, responsive to our tenants' needs, has made our expansive portfolio of 20 million s/f of high-quality, well-located buildings throughout the New York tri-state area highly attractive." RXR signed leases for 687,000 s/f in its New York City properties in 2013. That included two major deals at 620 Ave. of the Americas: Mediaocean, the largest independent advertising technology company in the world, signed a lease for 88,000 s/f of space; and Spotify, the digital music streaming company, added 50,000 s/f to the 73,000 s/f it already had there. In addition, Under Armour, the leader in performance apparel, footwear and accessories, signed a lease for 15,000 s/f in the Starrett-Lehigh Building, for its New York headquarters. On Long Island, RXR signed new and renewal transactions for more than 725,000 s/f of space. Some of the larger leases included Liberty Mutual Insurance taking 58,500 s/f at 50 Charles Lindbergh Blvd. in Uniondale; Chernoff & Diamond LLC taking 33,000 at RXR Plaza in Uniondale; and the American Institute of Physics taking 44,700 s/f at 1305 Walt Whitman Road in Melville. RXR secured 300,000 s/f in new or renewed leases in New Jersey, with the pharmaceutical company Pfizer signing for 113,000 s/f at 1 Giralda Farms in Madison. At 51 JFK Parkway in Short Hills, Wells Fargo renewed and took additional space, for a total of 32,000 s/f; the law firm DLA Piper signed a new lease for 21,000 s/f; and Citigroup renewed for its 15,000 s/f. RXR's Westchester properties saw 221,000 s/f of new or renewed leases, highlighted by party goods company Amscan taking 60,700 s/f in 80 Grasslands Road and 57,000 s/f at 100 Grasslands Road, both in Elmsford. In Connecticut, 22,000 s/f of leases were signed in 2013, including a 6,000 s/f lease at 225 High Ridge Road in Stamford, with Teachers Insurance and Annuity Association of America, TIAA-CREF.