NEW YORK — Jones Lang LaSalle recently represented Beth Israel Medical Center in a transaction at 111 Eighth Avenue, the Google Building. The hospital signed a 15-year lease extension for 98,913 square feet of space at the Class A, 2.9 million-square-foot commercial office building owned by Google Inc.
The tenant, Beth Israel Medical Center, was represented by JLL’s Robert Martin, vice chairman, and Barbara Winter, executive vice president. Owner Google, was represented by Matthew Weir, vice president, with TaconicPartners, along with Kenneth Rapp, vice chairman; David Hollander, executive vice president; and Doug Lehman, first vice president, with CBRE Inc.
“We worked closely with Beth Israel Medical Center to keep its outpatient cancer care facility at the Google Building,” said Martin. “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.”
Beth Israel occupies a portion of the ground floor at 111 Eighth Avenue, which is located between West 15th and West 16th streets in Manhattan’s Chelsea district. The health-care provider operates the Beth Israel Comprehensive Cancer Center - West Campus, an outpatient cancer care facility, on the ground floor of the 16-story office building.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering, capital markets, property/facilities management, consulting, and project and development services. In 2012, the New York tri-state team completed approximately 23.8 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 102.1 million square feet and an agency leasing portfolio of 76.0 million square feet.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.