Hollander and Meagher of CBRE sublease 42,516 s/f at 620 Twelfth Avenue

CBRE has arranged a 42,516 s/f sublease on behalf of sublandlord Schindler Elevator Corp. at 620 Twelfth Ave. The subtenant, Video Equipment Rentals, took the entire 1st and 3rd floors in the 8.5-year deal. CBRE'S David Hollander and Colin Meagher represented the tenant. "Video Equipment Rentals valued the rare high-ceiling space for the opportunity it presented them in the ability to deploy both a high-end video equipment showroom and distribution center," said Meagher. "This transaction also signals an expansion and relocation from the nearby Starrett-Lehigh Building for Video Equipment Rentals." Schindler Elevator Corp. is one of the leading global manufacturers of elevators and escalators. In New York City alone, Schindler equipment is being installed in the World Trade Center, Grand Central Station and the Fulton Street Transit Center, and is recognized for notable elevator projects such as the Marriott Marquis in Times Square.