November 8, 2010

Coldwell Banker Commercial Phoenix Asset Management Oversees New Construction

The asset management division of Coldwell Banker Commercial (CBC) Hunter Phoenix has been appointed owner’s representative to oversee the construction of a new two-story glass and steel development, comprising approximately 130,000 square feet, and the renovation and conversion of the adjacent landmark building into a combined mixed-use property at 505 Fulton Street in downtown Brooklyn. Located on one of the borough’s busiest corners, at Fulton and Bridge Streets, the project is near the entrance to the Fulton Street Mall, across the street from Macy’s, and close to MetroTech Center and the Atlantic Yards.

When completed, it is anticipated to become an integral part of the area’s positive transition. Popular Swedish fashion manufacturer and store chain H&M has already signed on as the anchor tenant in one of the buildings for its first foray into the borough.

Working as owner’s representative for preeminent developer United American Land (UAL), owned by the Laboz family, CBC Hunter Phoenix will be responsible for oversight of the construction all the way through leasing and continuing on to asset management of the two properties. The architect for the project is Greenberg Farrow, general contractor is OTCA/BDD-JV, and engineers include Lilker Associates, Langan Engineering and OJR.

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