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Grubb & Ellis Team Prepared to 'Lead The Market' With Flexible Terms
For 155,000 Square Foot Sublease
NEW YORK, May 6 /PRNewswire-FirstCall/ -- Grubb & Ellis Company (OTC Bulletin Board: GBEL), one of the leading providers of integrated real estate services, announced today that it has been selected as the agent for Instinet Corporation, the largest global electronic agency securities broker, in the subleasing of 155,000 square feet of class A+ office space at 3 Times Square.
The disposition team, led by Merrill L. Roth, Executive Managing Director, is offering aggressive terms to qualified tenants, including a choice of eight-, 10- or 18-year lease terms. "We are prepared to lead this segment of the market in both flexibility and in the overall deal," said Roth, a 25-year veteran of New York City real estate brokerage, "tenants will not find a better value for space of this quality."
The Reuters building, completed in 2001, is "one of the most progressive examples of Green Architecture in Manhattan," according to designer Dan Kaplan of Fox & Fowle Architects. The open floor plans are designed with a center core and high ceiling height, allowing for ample natural light...