Lease Beat

Joester Loria Group Relocates in Union Square

Courtesy of Property Shark

Courtesy of Property Shark

The Joester Loria Group will be relocating its offices within Union Square.

The brand licensing agency that works with big names like PepsiJose CuervoPoptartsand Animal Planet, among many others, will be moving to a full-floor suite at 30 Irving Place. The company is expected to take the 10th floor, spanning approximately 8,500 square feet.

“They are moving just one block south to a full floor with great views that will be beautifully constructed and an exciting draw for both clients and employees,” said Scott Galin, a principal at Handler Real Estate Organization, noting the move from 860 Broadway where it operated on the third floor.

“It’s an ideal solution,” added Peter Newman, an executive managing director at Handler and a tenant broker on the transaction. “30 Irving provided everything Joester Loria was seeking, including a superior build out.”

Mr. Newman was joined his colleague Diana Siegel in representing the tenant during lease negotiations. 30 Irving Place, a 12-story building, is owned by Samco Management and was represented by in-house brokers Jeffrey Smith, Adam Smith, Rebecca Stein and Melissa Smith.

“Joester Loria loves the Union Square neighborhood for its creative energy, talent pool, and wealth of amenities,” added. Mr Galin. Given the buildout, Joester Loria expects to move into the suite in February 2014.

Tenancy in the building remains tight with only 4,000 square feet available on the ground floor. The space, wedged between 15th and 16th Streets, is requesting retail rents around $110 per square foot. Rents for Joester Loria’s office clocked in at $46 per square foot.

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