Maryland Transport Systems Solutions Company Moving NYC Digs to Garment District
By Lauren Elkies Schram December 18, 2017 11:50 am
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Annapolis, Md.-based Aeronautical Radio, a major provider of transport communications and systems engineering solutions founded in 1929, is moving its New York City digs from the Financial District to the Garment District, Commercial Observer has learned.
Aeronautical Radio has taken 8,000 square feet on the second floor of the 12-story building at 225 West 39th Street via a 10-year lease, according to information provided by Walter & Samuels. An investment group led by Walter & Samuels Chairman David I. Berley owns the 1910 property between Seventh and Eighth Avenues, which comprises 90,000 square feet of office lofts, showroom and retail space.
The asking rent for the space, vacant for a little over six months after Manhattan Fencing moved out, was $48 per square foot, a Walter & Samuels spokeswoman indicated. The lease was signed on Dec. 12 and Aeronautical Radio will relocate from 14 Wall Street in the first quarter of 2018.
Mark Jaccom, who left JRT Realty for a newly created position at Walter & Samuels, and Walter & Samuels Ian Weiss represented the owner in the deal. Justin Haber, Steve Rotter and Kyle Rike of JLL (JLL) represented the tenant. A JLL spokesman didn’t respond with a comment from the brokers.
“We want to create a rich and diverse tenancy at this historic Garment District building, and are thrilled to have secured a major public company like [Aeronautical Radio],” Jaccom said in a prepared statement. “With great historic bones and a fully modern interior, we anticipate that the building will diversify over the years to include more media and tech, reflecting the evolution of the neighborhood overall and the available local amenities.”
CO reported in April that Gracia Fashion signed a 10-year lease for 5,000 square feet of ground-floor retail space and 4,500 square feet of lower-level space at the building. Israeli American fashion designer Yigal Azrouël is also a tenant.
