Leases  ·  Office

Center for Spine Care and Mobility Leases 5K SF in Flatiron

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This medical office is showing some backbone in its latest office expansion.

The Center for Spine Care and Mobility is relocating from 915 Broadway after signing a 5,000-square-foot lease with Mehra Properties at 19 West 21st Street, Commercial Observer has learned.

SEE ALSO: Stripe Signs 147K-SF Sublease at 28 Liberty Street

The five-year deal came with an asking rent of $45 per square foot for the Flatiron District building, according to MJ Property Group’s Mark Gindi, who brokered the deal on behalf of the landlord. LSL AdvisorsDaniel Lolai and Joe Friedman represented the tenant in the deal. LSL declined to comment.

This will be an expansion for the tenant which is doubling its space in the move, according to a source with knowledge of the deal.

“I do see the market getting better, tenants looking for larger office space,” Gindi told CO. Obviously, they want to get a good deal, but there’s definitely movement.” 

Also known as the Spero Building, 19 West 21st was built in 1908 between Fifth Avenue and Avenue of the Americas and stands 12 stories tall.

Far from spineless in the face of bumpy market conditions, health care providers seem to be making plenty of new deals recently with medical laser distributor NYLO Aesthetics signing a 13,000-square-foot retail lease at Sioni Group’s 240 West 37th Street and PT of the City expanding into the Bronx with a new 2,600-square-foot physical therapy center at 798 Southern Boulevard, CO reported.

Mark Hallum can be reached at mhallum@commercialobserver.com.