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	<title>The Commercial Observer &#187; Warriors Get New Lease on Life</title>
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		<title>The Commercial Observer &#187; Warriors Get New Lease on Life</title>
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		<title>Warriors Get New Lease on Life</title>

		<comments>http://commercialobserver.com/2011/10/warriors-get-new-lease-on-life/#comments</comments>
		<pubDate>Thu, 27 Oct 2011 09:47:41 -0400</pubDate>
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		<description><![CDATA[<p><div id="attachment_194104" class="wp-caption alignleft" style="width: 146px"><a href="http://nyocommercialobserver.files.wordpress.com/2011/10/7-penn-plaza-wounded-warriors.jpg"><img class="size-full wp-image-194104" title="7 Penn Plaza, Wounded Warriors" src="http://nyocommercialobserver.files.wordpress.com/2011/10/7-penn-plaza-wounded-warriors.jpg" alt="" width="136" height="200" /></a><p class="wp-caption-text">On the 18th floor, water tanks will be replaced by a non-profit.</p></div></p>
<p>It began with a rush to expand before Veterans Day, easily the busiest time of the year for the <strong>Wounded Warriors Project</strong>.</p>
<p>The non-profit, which since 2002 has assisted servicemen and women injured in combat, had occupied a small 4,700 square feet space at <strong>7 Penn Plaza</strong>, but urgently needed to expand by the Nov. 11 federal holiday in order to host a whirlwind week of activities and visitors, many of them wounded veterans, brokers at <strong>Cassidy Turley</strong> said.</p>
<p><!--more-->Although <strong>the Feil Organization</strong> combed the building for available office space, nothing immediately turned up. In time, however, the landlord took advantage of what Cassidy Turley broker <strong>David Lebenstein</strong> described as "found space," an 18th-floor storage room that, until now, had been occupied by a series of water tanks.</p>
<p>The epiphany allowed Wounded Warriors to relocate from 4,700 square feet on the third floor to 9,400 square feet on the 18th in a 10-year deal that will allow the non-profit additional room for growth. And over the next year the group plans to do just that.</p>
<p>"All our clients are doing good, but these clients are <em>really </em>doing good. This is really important," said Robair Reichenstein, who worked with Mr. Lebenstein as broker for the tenant. "You end up taking it home. I have had many conversations with my wife about it."</p>
<p>Asking rent in the deal was in the low $40s. <strong>David Turino</strong> represented the Feil Organization in-house.</p>
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		<content:encoded><![CDATA[<p><div id="attachment_194104" class="wp-caption alignleft" style="width: 146px"><a href="http://nyocommercialobserver.files.wordpress.com/2011/10/7-penn-plaza-wounded-warriors.jpg"><img class="size-full wp-image-194104" title="7 Penn Plaza, Wounded Warriors" src="http://nyocommercialobserver.files.wordpress.com/2011/10/7-penn-plaza-wounded-warriors.jpg" alt="" width="136" height="200" /></a><p class="wp-caption-text">On the 18th floor, water tanks will be replaced by a non-profit.</p></div></p>
<p>It began with a rush to expand before Veterans Day, easily the busiest time of the year for the <strong>Wounded Warriors Project</strong>.</p>
<p>The non-profit, which since 2002 has assisted servicemen and women injured in combat, had occupied a small 4,700 square feet space at <strong>7 Penn Plaza</strong>, but urgently needed to expand by the Nov. 11 federal holiday in order to host a whirlwind week of activities and visitors, many of them wounded veterans, brokers at <strong>Cassidy Turley</strong> said.</p>
<p><!--more-->Although <strong>the Feil Organization</strong> combed the building for available office space, nothing immediately turned up. In time, however, the landlord took advantage of what Cassidy Turley broker <strong>David Lebenstein</strong> described as "found space," an 18th-floor storage room that, until now, had been occupied by a series of water tanks.</p>
<p>The epiphany allowed Wounded Warriors to relocate from 4,700 square feet on the third floor to 9,400 square feet on the 18th in a 10-year deal that will allow the non-profit additional room for growth. And over the next year the group plans to do just that.</p>
<p>"All our clients are doing good, but these clients are <em>really </em>doing good. This is really important," said Robair Reichenstein, who worked with Mr. Lebenstein as broker for the tenant. "You end up taking it home. I have had many conversations with my wife about it."</p>
<p>Asking rent in the deal was in the low $40s. <strong>David Turino</strong> represented the Feil Organization in-house.</p>
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