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The 20-story, 305,000-square-foot office building was built in 1906 in Chelsea. Net-A-Porter has also recently leased space in the building.

Martin Horner of Jones Lang LaSalle represented Apple. Grant Greenspan of Kaufman Leasing Company LLC represented the landlord, a joint venture between Kaufman and Invesco that purchased the property in late 2010 for $93.5 million according to CoStar data.

The 15,000-square-foot, four-story retail property, also known as the I. Miller Shoe Building, was constructed in 1939 and renovated in 2006 in the Times Square submarket of Manhattan at W. 46th Street.

Jonathan Caplan, Richard Baxter, Ron Cohen, and Scott Latham of Jones Lang LaSalle represented the seller. SL Green and Wharton Realty did not secure third-party representation for the deal.

“It’s a special property with huge potential. Times Square is the billboard capital of the world, and its retail rents are approaching those on Fifth Avenue in the 50’s–the highest levels in New York City,” noted Caplan. The property has two billboards which could be converted to LED, with approvals in place for a third.

Please see CoStar COMPS #2164802 for more information on this transaction.

An affiliate of Hyatt Hotels Corp. has signed a long-term agreement to manage the property upon completion of the $300 million project in Manhattan’s Theater District. The 550 foot, 4-star hotel will include 487 guestrooms, including 49 suites. Architectural firm SLCE designed the exterior and SPaN of New York handled the interiors.

The hotel will include a rooftop bar, luxury spa and restaurants. With its central location on West 45th Street between Broadway and 6th Avenue, the hotel will cater to both business and leisure travelers. It’s near both the business district and attractions such as Broadway, Radio City Music Hall, Rockefeller Center and Public Library.

As of midyear, Hyatt’s worldwide portfolio consisted of 456 properties in 44 countries. And the chain is growing aggressively, announcing in July an agreement to buy 24 extended-stay properties from LodgeWorks LP for about $802 million in cash.

Extell, founded by developer Gary Barnett in 1989 has built a number of residential properties in New York City, including the former Stanhope Hotel at 995 Fifth Avenue opposite the Metropolitan Museum of Art; 31 West 11th Street in Greenwich Village, and Altair 18 Altair 20 in the Ladies Mile District. Extell recently completed the Lucida, the Upper East Side’s first LEED-certified condominium and is currently developing Riverside South, a new neighborhood along the Hudson River on Manhattan’s Upper West Side.

To date, the company has masterminded design and ground-up construction for The Avery, The Rushmore, The Aldyn and The Ashley, and is also developing the International Gem Tower in Manhattan, designed specifically for the global diamond, gem and jewelry trades.

This year, Extell will unveil its flagship hotel and condominium project, 157 West 57th Street, featuring the Park Hyatt New York luxury hotel.

Fifth Third Bank’s newly expanded office space includes a ground floor retail space and floors 29 through 34. The bank is based in Cincinnati and has 2,200 employees across its 190 bank branches throughout Illinois and northwest Indiana.

Cal Wessman, executive vice president with CB Richard Ellis, along with CBRE senior vice presidents Kevin Rogers and Brad Serot, represented Fifth Third Bank. CBRE’s Rachel Waymire, associate, and Bob Gillespie, senior vice president, represented Behringer Harvard REIT I, the owner.

Riverside Plaza is a 1.18 million-square-foot, 35-story office property in the West Loop submarket.

More Corporate Expansions Relocations

Allen Gerritsen

signed on as a new tenant at Pembroke Real Estate’s Seaport East in Boston. Allen Gerritsen will lease 33,209 square feet of commercial space for 10 years beginning September 2012. Jones Lang LaSalle represented Pembroke Real Estate and CB Richard Ellis/New England represented Allen Gerritsen.

Autodesk,

a leader in 3D design, engineering, and entertainment software, leased the entire fourth floor at the Steuart Street Tower at One Market Plaza in San Francisco. The lease totals 36,436 square feet, and the move-in is anticipated for the third quarter of next year. Chris Roeder, Wes Powell and Ted Davies of Jones Lang LaSalle represented the landlord, Paramount Group, while Autodesk was represented by Phil Arnautou and Mike McCarthy of Colliers International. (By: Dan Bates)

Avila Therapeutics

leased 23,000 square feet at 45 Wiggins Ave. in Bedford, MA, owned, managed and operated by Alexandria Real Estate Equities. The move represents a net growth for Avila Therapeutics which will be relocating from Alexandria Real Estate Equities’ 100 Beaver Street in Waltham. Cushman Wakefield’s director, Juliette Reiter, along with executive director, Mark Winters, and senior director, David Townsend, represented Avila Therapeutics.

AZ West,

the western arm of third party logistics firm AZ Container Freight Station, leased a 300,000-square-foot industrial property at 2220 East Carson St. at Watson Land Co.’s Watson Corporate Center in Carson, CA. The transaction is among the South Bay’s largest single-building industrial leases in 2011 in terms of square footage. The 6-year lease is valued at approximately $12.5 million. The move doubles AZ’s warehouse space in the Port of Los Angeles/Long Beach Area to over 500,000 square feet in two South Bay buildings. Bret Quinlan, Bill Waxman and Mike Rizzo of CB Richard Ellis represented AZ West. Watson Land Company was represented in-house by Lance Ryan and Mike Bodlovich.

Belden Inc.

signed a 30,644-square-foot lease at Plaza One, at 401 Pennsylvania Pkwy. in Indianapolis. Andrew Martin and Bennett Williams with Cassidy Turley represented Belden Inc. John Robinson and Adam Broderick with Jones Lang LaSalle represented the landlord, MCP Partners One LLC. (By: Martha Liriano)

Clifton Gunderson LLP,

a CPA and consulting firm will relocate its Phoenix, AZ, office to Qwest Tower, where it will occupy 23,712 square feet on the 23rd and 24th floors for a 7-year term. The move is designed to accommodate the company’s planned expansion in the Phoenix market. At present, Clifton Gunderson occupies 17,453 square feet at Phoenix Corporate Tower at 3003 N. Central Ave. Dominic Perry and Julie Johnson of GPE Commercial Advisors LLC represented Clifton Gunderson. Jim Fijan, Jerry Roberts, and Corey Hawley of CB Richard Ellis represented the landlord, Irvine, CA-based LBA Realty. (By: David Whitmore)

Doral Financial Corp.,

a diversified financial services company, extended and expanded its lease at 623 Fifth Ave. in New York between 50th and 51st streets. Doral Financial will extend its lease on the 13th floor where it occupies a total of 13,010 square feet. The company will also expand on the entire 19th floor and will occupy 14,486 square feet for a total of 27,496 in the 38-story building. The expansion is expected to be completed by the fall. Cushman Wakefield, led by John Picco and Richard Nocom represented the tenant. Steve Lambert and David Nevins of Cohen Brothers Realty Corporation represented the landlord.

Gate Gourmet Inc.

signed for 67,599 square feet on the second floor of 1880 Campus Commons Drive in Reston, VA. According to the lease, tenant improvements must be completed by Nov. 30 for a subsequent move-in. Gate Gourmet’s lease expires in December 2021. The CB Richard Ellis team of Terry Reiley, Dan Falls and Robert Faktorow represented the landlord, Brandywine Realty Trust. There is no tenant representative on record. (By: Alexandra Phillips)

Gensler,

an architecture firm, will relocate to midtown Atlanta. The global firm signed a new deal to move into 21,136 square feet at 999 Peachtree St. David Shope and Jeff Dils of Cousins Properties Inc. represented the landlord, Jamestown. (By: Michael White)

Griffin Thermal Products LLC,

a maker of thermal transfer products for automotive and industrial sectors, will relocate its existing operations to a significantly larger facility in Piedmont in Greenville County, SC. The multi-million dollar investment is expected to generate at least 50 new jobs, and possibly more, as the new facility becomes fully operational. Griffin Thermal will relocate from its current facility to 750 Estes Plant Road in Piedmont, acquiring and completely refurbishing the vacant former Delta Mills Estes Plant in the process. The 330,000-square-foot facility, which provides four times the space previously used by the company, will be completely updated and fitted to a state-of-the-art manufacturing facility.

Herbalife International Inc.

is relocating its operations from its previous 82,000-square-foot location within Watson Industrial Center in Carson, CA, to a 148,908-square-foot industrial property at 18431 Wilmington Ave. in Carson. The lease is for 10 years. Herbalife made the move to position itself for long-term growth with a larger and more flexible property to augment its growing inventory of products. Herbalife is improving the interiors to include approximately 20,000 square feet of office space to house corporate offices. Mike McRoskey, Frank Scott, Tim O’Rourke and Barry Hill of Jones Lang LaSalle represented Herbalife. Watson Land Company was represented in-house by Lance Ryan and Mike Bodlovich.

Joule Unlimited Technologies Inc.

signed a 50,710-square-foot lease at 18 Crosby Drive in Bedford, MA. The Newmark Knight Frank team of John Hennessey and Ryan Weber represented Joule Unlimited. Stacy Baker was the in-house representative for Boston Properties Inc.

Millennium Trust Co.,

a leading provider of administrative and custodial services, will move to a 72,000-square-foot space at Commerce Plaza in Oak Brook, IL, in 2012. Millennium Trust is centralizing its operations from about 50,000 square feet that it currently leases in two other Oak Brook-area buildings. They were represented by David Justh and Gary Fazzio of CB Richard Ellis. Jones Lang LaSalle vice president Karla Harmon completed the transaction on behalf of the building’s owner, Arden Realty Inc.

Momentum Worldwide,

a global marketing agency that is part of the Interpublic Group of Cos. Inc., renewed 14,927 square feet on the 17th floor of 444 N. Michigan Ave., and expanded into 8,276 square feet on the 18th floor of the building. GLL Properties is the building owner. Lenora Adds of Cushman Wakefield represented GLL Properties; while Momentum Worldwide was represented by Robert Romano, Brian Chernett and Jack Howland of Jones Lang LaSalle. (By: Gregory Faust)

Nadri Inc.,

a fine jewelry company, signed a 16,057-square-foot lease at 2 Executive Drive in Fort Lee, NJ. Nadri is relocating its global headquarters from New York City. Nick Kim, a senior managing director with Colliers International New Jersey, represented Nadri. Landlord, Fort Lee EP LLC, was represented by Frank Recine and Ken Porreca of Newmark Knight Frank.

Nihill Riedley PC

subleased the entire 32nd floor from a current law firm tenant at 1600 Market St. in Philadelphia. The accounting firm will occupy slightly more than 22,600 square feet of office space. Thomas W Coyne of Fidelity Commercial represented Nihill Riedley, a subsidiary of Smart Devine, LP in the sublease. The tenant subleasing the space, Schnader Attorneys, was represented by Thomas Hummel of NAI Geis Realty Group Inc. (By: Nashira Smith)

Orion-MBS,

a medical billing and practice management company, leased 27,714 square feet in the office building at 3200 Wilcrest Drive in Houston, TX. Orion will relocate from 10700 Richmond Ave. The tenant will add 10,000 square feet to its current operation at Westchase III. Bruce Jester of Henry S. Miller represented the tenant. Robert Cullum of Asset Plus Corp. represented the landlord, Houston Texas Westchase. (By: Liz Wilkinson)

Rich Products Corp.

leased the entire 185,500-square-foot industrial building at 1600 Whipple Road in Union City, CA. The food supplier is vacating 38,000 square feet at 1511 Grandview Drive in South San Francisco. Mark Kol of CB Richard Ellis and David Black of CB Richard Ellis represented the tenant. Greig Lagomarsino and Rick Keely of Colliers International represented the landlord, Youngs Market Co. (By: Linawati Collier)

RockTenn,

a paperboard and packaging solution company, signed a deal for 68,666 square feet in the office building at 3950 Shackleford Drive in Duluth, GA. The lease will commence next month. The location will house 500 new employees. The mass hiring was spawned after RockTenn’s recent acquisition of Smurfit-Stone Container Corp. RockTenn’s lease includes three floors and Duke Realty will relocate from its current 34,000-square-foot regional office in Hampton Green to make way for the new tenant. Duke Realty will move its operations to 3039 Premiere Parkway in Duluth, also known as Sugarloaf Office II. Jeff Kelley and Douglas Biggs of Colliers International represented RockTenn. Chris Brown and Craig Flanagan of Duke Realty represented ownership in-house. (By: Karen Kester)

Rothstein Kass Co.

renewed and expanded its offices from 55,308 square feet to 88,049 square feet on floors 10 through 15 at 1350 Avenue of the Americas in New York, NY. Howard Tenenbaum and Gary Rosen represented building owner SL Green in-house. Jared Horowitz of Cushman Wakefield represented the tenant in this transaction. (By: Timothy Weber)

SourceGas,

a natural gas local distribution utility, will relocate its corporate headquarters from Lakewood, CO, to Golden, CO, in 2012 after signing a long-term lease to occupy 52,000 square feet at 600 12th St. owned by Karlin Real Estate. SourceGas has outgrown its current location and expects to have 200 employees working in its new corporate headquarters when it completes the move in March 2012. Steve Billigmeier of Cushman and Wakefield represented the tenant and Frank Kelley and Blake Harris of CB Richard Ellis represented the Landlord.

Southern Prosthetic Supplies Inc. (SPS),

one of the largest distributors of orthotic and prosthetic devices in the world and a subsidiary of Hanger Orthopedic Group, expanded its headquarters leas at 6025 Shiloh Road in Alpharetta, GA. SPS is in a period of strong and protracted growth and required an additional 21,000 square feet of space in its Georgia facility to increase its total square footage to approximately 91,000. UGL Services, led by senior vice president Daniel Rasmussen in the Washington, DC, office, represented SPS. Tom Crowe, vice president of leasing at Avison Young, represented the owner, Castle Investment Co.

Sungevity,

a leading solar provider, will expand its headquarters at Oakland’s Jack London Square to 68,000 square feet. The expanded office space includes its current square footage in the historic 66 Franklin Street building and increased space in the newly constructed 55 Harrison Street Building. Sungevity is adding the space to facilitate its rapid business and workforce growth, due in part to the company’s successful East Coast expansion and new partnership with home improvement retailer, Lowe’s. Sungevity’s headquarters will be located on the third floor of the new LEED silver certified 55 Harrison building at Jack London Square. Sungevity had been leasing 19,000 square feet at 66 Franklin. Jack London Square Ventures was represented by brokers Ryan Hattersley, Daniel Bisabri and Matt Griffin of Cushman and Wakefield. Sungevity was represented by brokers Marc Ward and Mike Rafetto, partners at Cassidy Turley BT Commercial.

SunTrust Bank

leased 95,420 square feet at Campanile Plaza at 1155 Peachtree St. in Midtown Atlanta. The bank will relocate more than 300 employees during the second quarter of next year from the downtown building at 25 Park Place. SunTrust will take the top eight floors of the Dewberry Capital-owned building. Kirk Diamond of Carter Associates represented SunTrust. Ridr Knowlton of Dewberry Capital represented the landlord in-house. (By: Finerve Holder)

U.S. General Services Administration (GSA)

signed a 10-year lease on behalf of the National Park Service is for 51,630 square feet in the Washington Commerce Center at 3300 Hubbard Road in Landover, MD. The GSA’s acquisition team was led by Larry Sutton, lease contracting officer, and Rosemary Alexander. Jones Lang LaSalle professionals representing the government included Reva Squire and Bill Craig. Brian Watts of Transwestern represented the building owner, Washington Properties Inc.

Ventas Inc.,

a senior housing and health care REIT, signed a direct lease for 28,557 square feet at Tishman Speyer’s 353 North Clark, a Class A office tower in Chicago. Separately, Ventas is subleasing additional space from an existing tenant. Brokers Geoff Euston and Meredith Soren of U.S. Equities represented Ventas in the direct lease transaction, while Tishman Speyer’s Joe Gordon and Jon Cordell represented building ownership.

Verenium

leased 59,199 square feet in the Nautilus building at 3550 John Hopkins Court in San Diego. The company evolves bacterial and fungal DNA to create enzymes that transform and improve industrial processes. Occupancy is set for June 2012 when the building is completed. Dave Odmark, Brian Starck and Jerry Keeney of Cassidy Turley BRE Commercial’s Life Sciences Group represented the owner, Alexandria Real Estate Equities, Inc. Greg Bisconti and Brent Jacobs of Cushman Wakefield represented Verenium. (By: Jody Thompson)

]]> http://www.certifiedmovers.net/lease-up-fifth-third-bank-expands-to-218135-sf-in-chicago.html/feed 0 http://www.certifiedmovers.net/costars-people-of-note-august-21-27.html http://www.certifiedmovers.net/costars-people-of-note-august-21-27.html#comments Sat, 27 Aug 2011 10:57:40 +0000 expertMoving http://www.certifiedmovers.net/costars-people-of-note-august-21-27.html This week’s People of Note includes the following markets: Atlanta, Boston, Chicago, Dallas/Fort Worth, Los Angeles, New York, Northern New Jersey, Philadelphia and Retail.

LOS ANGELES
Studley Taps Media Services Exec as Managing Director

Studley promoted office specialist Robert Cavaiola to managing director. The former associate director is based in West Los Angeles and works with companies in the entertainment, media and technology-related industries.

Cavaiola’s 15-year tenure at Studley started after he completed his studies at UCLA. His accomplishments include co-founding the firm’s Southern California Media Services Group and closing 2.5 million square feet in total deals.

His recent transactions of note are Adconion Media’s 40,000-square-foot headquarters relocation in Santa Monica, Shine/Reveille’s 35,000-square-foot corporate office consolidation in Hollywood and World Poker Tour’s deals in Irvine and Hollywood, each totaling 25,000 square feet.

Four brokers have joined Cassidy Turley to establish a tenant representation practice in the firm’s Dallas office.

Greg Biggs, Randy Cooper, Rob Morris and Craig Wilson, all formerly affiliated with Cushman Wakefield, will join the firm, adding tenant representation to Cassidy Turley’s landlord representation and property management service lines.

Cooper, who has represented some of Dallas’ major law firms and corporations during his 30-year career, was named vice chairman of brokerage services, and all four were appointed principals of the firm. Biggs was named executive managing director, Wilson was named senior managing director, and Morris a vice president.

The team will work with Bret Bunnett, Cassidy Turley’s regional managing principal for Texas, to help develop the firm’s tenant representation service in Texas and work with Cassidy Turley’s national leadership to implement strategic initiatives for the company’s tenant representation practice.

Multifamily investment specialist Dana Brody-Thaw has joined Beverly Hills, CA-based Commercial Asset Group Inc. as executive managing director.

In her new role at the full-service commercial real estate company, Brody-Thaw, who has more than $300 million in completed transactions, will focus on marketing and sales of multifamily properties in the greater Los Angeles area, including Hollywood, West Hollywood, Hancock Park, Beverly Hills and Los Feliz.

With her sales experience and track record, Brody-Thaw will play a key role in the growth of Commercial Asset Group’s apartment investment business, said David Ickovics, principal of Commercial Asset Group, which has offices in Beverly Hills and Encino.

She comes to the company following four years with Grubb Ellis Co., where she was an associate vice president. Previously, she was an investment associate with Marcus Millichap and also served as business development director with CB Richard Ellis.

Since starting her commercial real estate career in 2003, Brody-Thaw has been recognized by numerous organizations and publications for her professional achievements, including CREW Los Angeles’ Women on the Rise.

BOSTON, NEW YORK, NORTHERN NEW JERSEY, PHILADELPHIA, RETAIL
Federal Realty Appoints Acquisitions Director for Northeast
By CoStar Research

Steve LaBold has joined Federal Realty Investment Trust (NYSE:FRT) as senior director of Northeast acquisitions. He will be responsible for sourcing and underwriting retail acquisitions in the REIT’s northeast region, including metropolitan New York, Boston, and Philadelphia. He will be based in the firm’s Morristown, NJ, office.

Prior to joining Federal Realty, LaBold sourced acquisitions while serving as managing director at Newmark Knight Frank and also was vice president, acquisitions and investment management with Monday Properties.

Prior to those positions, LaBold served as vice president of transactions for Prudential Real Estate Investors in the Northeast, where he was responsible for acquiring commercial properties and developing joint venture relationships. While with Prudential, LaBold originated and closed more than $2.5 billion of acquisitions and development joint ventures.

Shawn Mobley joined Cushman Wakefield of Illinois as executive vice president and market leader. Mobley will head CW’s downtown Chicago and Rosemont offices, as well as guide the firm’s growth in the Chicago area.

He has more than 20 years of commercial real estate experience. Before coming to Cushman, Mobley performed as president of brokerage services for Grubb Ellis, responsible for more than 100 offices nationwide. He also served as senior vice president in the corporate solutions group at Jones Lang LaSalle.

Cushman Chicago’s offices have hired more than 30 professionals during the past six months.

LOS ANGELES
Marcus Millichap Taps Paryani as VP, Capital Markets
By Emily Chiu

Anita Paryani was named vice president of capital markets for Marcus Millichap Capital Corp. The achievement is one of the highest levels of recognition the firm awards its originators.

Most recently, Paryani was a senior director. According to William E. Hughes, senior vice president and managing director of MMCC, the position represents tremendous market knowledge, superior transaction expertise and a commitment to providing clients with excellent capital markets knowledge and advisory services.

Paryani began her career with MMCC in 2004.

ATLANTA
Studley Promotes Hirsh to Corp. Managing Director
By Brandon Young

Studley promoted Josh Hirsh from managing director to a corporate managing director in Atlanta.

During his 11 years at the commercial real estate firm, Hirsh has consistently been a top performer as he represented corporate and law firm tenants. Some of his recent deals are GXS’ renewal of 55,000 square feet; Thompson Hine’s lease of 32,000 square feet; and Munich RE’s renewal of 65,000 square feet.

Follow the news on Twitter @LaurieForbes and @TheCoStarGroup. Check out last week’s edition of People of Note.

]]> http://www.certifiedmovers.net/costars-people-of-note-august-21-27.html/feed 0 http://www.certifiedmovers.net/uws-apartments-trade-for-8-1m.html http://www.certifiedmovers.net/uws-apartments-trade-for-8-1m.html#comments Thu, 25 Aug 2011 10:35:13 +0000 expertMoving http://www.certifiedmovers.net/uws-apartments-trade-for-8-1m.html
Silverstone Property Group acquired a pair of walkup apartment buildings at 450-452 Amsterdam Avenue in New York from Big Nut Management for $8.1 million or $405,000 per unit.

Located in the Upper West Side, the two five-story, apartment buildings encompass 18,500 square feet and consists of sixteen apartments and four stores. All of the vacant apartments will be renovated by the new owner.

Paul Smadbeck, Hall Oster, and Timothy Hay of Massey Knakal represented the seller. Silverstone did not have representation.

For additional information, please refer to CoStar COMPS # 2155330.

The 35-story 590,068-square-foot office building was constructed in 1966. Howard Tenenbaum and Gary Rosen represented building owner SL Green in-house. Jared Horowitz of Cushman Wakefield represented the tenant in this transaction.

This past spring, Fitch Ratings served up an ‘A’ rating on the USTA National Tennis Center’s (NTC) approximately $111 million civic facility revenue bonds outstanding. The 2003, 2004, and 2007 bonds were issued through the New York City Industrial Development Agency (IDA).

The growth of the U.S. Open as an event and the NTC’s popularity has continued through local and national recessions, illustrating its strong resiliency of demand, Fitch said. The rating also incorporates the legal framework of the NTC as an operating entity of the United States Tennis Association (USTA). The financial strength of the NTC and affiliates as a consolidated entity is also reflected in the rating.

Pledged revenues in 2010, consisting of ticket and broadcast revenues, generated a maximum annual debt service (MADS) multiple of 7.46x. U.S Open Ticket revenues alone cover MADS at 2.97x in fiscal 2010. Maximum annual debt service is approximately $19.5 million and Fitch expects coverage to remain strong at or above historical levels.

The USTA’s strong fan base drives its high coverage levels and economic profile. Paid attendance for the U.S. Open has increased steadily throughout the decade, to approximately 700,000. Attendance during the most recent downturn was extremely stable, only marginally sliding by 0.9% in 2010 from 2009.

In addition, the majority of broadcast revenues are secured through 2014. Per the 2011 budget, the USTA is conservatively forecasting comparable U.S. Open ticket sales when compared to fiscal 2010. While the mix of luxury box contracts leans heavily toward the financial services industry, 2009 and 2010 U.S. Open revenues showed no meaningful deviation from their long-term trend despite a period of crisis for the financial services sector.

Projects completed with funds from the most recent bond issuance include new locker rooms and fitness facilities at Arthur Ashe Stadium, expanded seating at several venues, and the completion of a 243,000-square-foot indoor tennis facility. Fitch expects the management to continue to proactively invest in the NTC to maintain the overall high quality of entertainment and preserve the fan experience. Currently the NTC has a manageable capital plan and Fitch anticipates no additional leveraging through fiscal 2012.

Created in 1978 as an operating entity of the USTA, NTC is a 501(c)(3) entity that operates and maintains the USTA Billie Jean King NTC. The USTA has owned and operated the U.S. National Tennis Championships since 1881 without interruption, and the tournament has been known as the U.S. Open since 1968.

The tournament moved from the West Side Tennis Club in Forest Hills (Queens), NY, to the NTC at Flushing Meadows (Queens), NY, in 1978. The U.S. Open is one of the four so-called “Grand Slam” tennis events, which also include Wimbledon, the French Open, and the Australian Open.

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Prior to joining Federal Realty, LaBold sourced acquisitions while serving as managing director at Newmark Knight Frank and also was vice president, acquisitions and investment management with Monday Properties.

Prior to those positions, LaBold served as vice president of transactions for Prudential Real Estate Investors in the Northeast, where he was responsible for acquiring commercial properties and developing joint venture relationships. While with Prudential, Mr. LaBold originated and closed over $2.5 billion of acquisitions and development joint ventures.

“We continue to seek properties with great population and income demographics, in areas with significant barriers to entry, where we can create value through leasing, operations and redevelopment,” stated said Barry Carty, vice president – East Coast acquisitions for Federal Realty.