CBRE Named Exclusive Agent for 218 West 18th Street
Gus Delaporte April 2, 2013, noon
American Realty Capital New York Recovery REIT has selected CBRE as the exclusive leasing and managing agent for 218 West 18th Street, it was announced today. Gregg Rothkin and Ben Fastenberg of CBRE will continue to market the property.
The building boasts availability on the second and sixth floors, both measuring 13,500 square feet, according to a statement. Ownership is planning to undertake a pre-build of the sixth floor.
The 165,000 square foot office building at 218 West 18th Street was acquired by American Realty Capital from Atlas Capital Group and GreenOak Real Estate for $112 million in January. The building features a newly renovated lobby, elevators, as well as new HVAC units and upgraded electrical systems.
As reported by The Commercial Observer, Red Bull signed a lease for over 40,000 square feet at 218 West 18th Street in April 2012. The transaction, brokered by CBRE, saw Red Bull take two retail and two office floors in the building.
In June 2012, San Francisco-based tech firm Yammer set up shop in New York by signing a 13,500 square foot lease at the building. In February this year, SAE Institute signed a 10-year lease for 27,000 square feet at 218 West 18th Street. Both transactions were also brokered by CBRE.
“We are pleased to have been retained by American Realty Capital as the exclusive leasing and managing agent for 218 West 18th Street,” said Mr. Rothkin in a statement. “We look forward to working with American Realty Capital New York Recovery REIT, Inc. and continuing our success at the building.”