Thursday, June 18, 1998
A look at a major real estate deal in the Tristate:
Lease Terms: Sive-Young & Rubicam has renewed for five years its lease in the CBLD Building downtown. The advertising firm will take 16,825 square feet.
Estimated value: $1 million.
Brokers: William A. Schneller, vice president of office properties for CB Richard Ellis, represented Sive-Young & Rubicam. Joan Hensler-Bittner, vice president Belvedere Corp., represented the landlord.
Building description: The CBLD Building at 36 E. Seventh St. was built in 1989. The 250,000-square-foot office tower is owned by Belvedere Corp. The building has an attached 700-space parking garage.
Behind the deal: Sive-Young & Rubicam signed the renewal last week. The firm will scale back their office space to 16,825 square feet from about 20,000. The company has been a tenant at CBLD for about nine years.
Perry Brothers covers commercial real estate and compiles Prime Deal weekly for the Enquirer. She can be reached at 768-8503.
