Beth Israel Inks 98,913-SF Extension at 111 Eighth Avenue
Billy Gray Oct. 1, 2013, 7:45 a.m.
Beth Israel Medical Center signed a 15-year, 98,913-square-foot lease extension at 111 Eighth Avenue, the 2.9-million-square-foot Chelsea building owned by Google.
Robert Martin and Barbara Winter of Jones Lang LaSalle represented the tenant. Google was represented by Matthew Weir of Taconic Investment Partners along with Kenneth Rapp, David Hollander and Doug Lehman of CBRE.
Beth Israel operates its Comprehensive Cancer Center on the ground floor of the property, which is on Eighth Avenue between West 15th and West 16th Streets.
“We worked closely with Beth Israel Medical Center to keep its outpatient cancer care facility at the Google Building,” Mr. Martin said in a prepared statement. “The property remains an ideal location, featuring a private street entrance for the health-care provider, along with above-standard electricity and emergency back up power, tenant controlled HVAC and high ceilings. The Google Building allows Beth Israel to offer a caring, comfortable environment for its patients, and a facility that supports the work of Beth Israel’s doctors and medical care providers.”
Google acquired the massive building for more than $2 billion in early 2011. Since then, the tech giant has had trouble clearing major tenants like Nike and Deutsche Bank from 111 Eighth during a search for 100,000 square feet of office space.