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News release

NEW YORK, NY

Jones Lang LaSalle Lands 6 Tenants for Deka at The Berkeley Building in New York

Firm arranges four direct deals, two renewals, totaling 26,081 SF of office & retail space at Class A, 292,968-SF office building; fills nearly 45,000 SF at property in past year


NEW YORK, February 24, 2014 — Jones Lang LaSalle has completed four new, direct transactions and two renewals, totaling 26,081 square feet of office and retail space, for Deka Immobilien GmbH at The Berkeley Building, 19 West 44th Street. Eos Products LLC signed for 8,377 square feet, Lieberman Research Worldwide Inc. leased 7,329 square feet, Enclave Capital LLC took 5,810 square feet and Gemvara Inc. signed for 2,333 square feet. In addition, SRG44 renewed 1,123 square feet of office space and E.B. Meyrowitz & Dell Opticians renewed 1,100 square feet of retail space at the Class A, 292,968-square-foot commercial office building.

The building owner, Deka Immobilien, was represented in all six transactions by Barbara Winter and Bill Korchak, executive vice presidents, with JLL. The team worked closely with Real Estate Capital Partners, which serves as the asset manager of the building for Deka Immobilien.

“Since acquiring The Berkeley Building several years ago, Deka Immobilien has invested significant resources in a major upgrade of the building,” said Winter. “Tenants from a diverse range of industries continue to be attracted to the office property by the improvements. The common corridors and pre-built suites at The Berkeley Building have been completed, and lobby and elevator renovations are well underway. The office building provides great city views in all directions and close proximity to mass transportation.”

Eos Products completed a 10-year lease for 8,377 square feet and will occupy a portion of the eighth floor at The Berkeley Building. The beauty products manufacturer is relocating to the building from 307 Fifth Avenue. Eos Products was represented by Greg Taubin, executive managing director, and Gabe Marans, associate, with Studley Inc.

Lieberman Research Worldwide signed a seven-year lease for 7,329 square feet and will occupy a portion of the 15th floor at the building. The marketing research firm is relocating to 19 West 44th Street from 52 Vanderbilt Avenue. Lieberman Research Worldwide was represented by Howard Nottingham, executive managing director, and Ryan McKinney, assistant director, with Studley.

Enclave Capital inked a five-year lease for 5,810 square feet and will occupy a portion of the 17th floor at The Berkeley Building. The broker-dealer is relocating to the building from  offices on Third Avenue. Enclave Capital was represented by Mitchell Kunikoff and Dennis Someck, executive managing director and principals, with Lee & Associates NYC.

Gemvara completed a three-year lease for 2,333 square feet and will occupy a portion of the eighth floor at the building. Gemvara was represented by Jonathan Schindler, senior managing director and principal, and Bryan Boisi, associate, with Cassidy Turley.

SRG44 renewed its lease for 1,132 square feet at The Berkeley Building for 10 years and will continue to occupy a portion of the 14th floor. The family office was represented by Josh Goldman, senior director, with Cushman & Wakefield.

E.B. Meyrowitz & Dell Opticians renewed its lease for 1,100 square feet of retail space at the building for 10 years and will continue to occupy a portion of the ground floor at 19 West 44th Street. The optician was represented in-house in the transaction.

JLL was named as exclusive commercial office leasing agent, property manager and project manager at The Berkeley Building in late 2012. Property management services at the property are overseen by Matt Duthie, managing director, with Matthew Kirby-Smith serving as general manager of the building. Project management services are overseen by Michael Chionchio, managing director, with Joseph Buxbaum and Shannon Ford serving as associate project managers.

The 18-story The Berkeley Building has approximately 19,000 square feet of office space available  in suites that range from 792 square feet to nearly 5,000 square feet. Floor plates at the property are typically slightly more than 17,000 square feet.

The office building is located at 19 West 44th Street between Fifth and Sixth avenues in Midtown, a few blocks from Bryant Park and Grand Central Terminal. Constructed in 1917, The Berkeley Building was designed by Starrett & Van Vleck. Deka Immobilien is in the midst of a capital improvement program for the building, with the work being overseen by Jones Lang LaSalle’s Project and Development Services group. The effort will include a variety of pre-built units, as well as upgrades to the building lobby, elevators, entry and infrastructure.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.

About the Deka Group:
DekaBank is the securities service provider of the savings banks. It is part of the Deka Group, together with its subsidiaries. With fund assets managed totaling approximately €180bn (according to the BVI statistics as at 30 September 2013) and around four million securities accounts managed, Deka is one of Germany’s biggest investment fund providers. Deka gives retail and institutional customers access to a wide range of investment products and services. DekaBank is firmly anchored within the Sparkassen-Finanzgruppe and has comprehensively geared its portfolio of products and services to the requirements of its shareholders and sales partners in the securities business.

The Deka Group’s global property expertise is pooled in its Asset Management Property business division. Capital investment companies Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH manage and service real estate assets of €24,9 bn (fund assets of €25,1 bn) as at 31 December 2013, jointly with service company Deka Immobilien GmbH. DekaBank’s property financing department is the second key element within the business division and generates a new business volume of some €2.5bn p.a.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.