February 27, 2007

Press Release
February 16, 2007

22 West 22nd Street – Calumet Photo Stores

A major retail lease transaction has been completed in the “Flatiron Graphic & Design Centre” at 22 West 22nd Street off of Fifth Avenue.

Calumet Photo Stores has leased HQ for their New York operation, a Chicago-based company with 31 locations throughout the United States (including Philadelphia, San Francisco and Los Angeles) and Europe in the United Kingdom, Germany, The Netherlands and Belgium.

Calumet has rented 16,000 sf on a long-term lease on three levels including the ground floor, lower level and the entire 2nd floor of 10,310 sf in 22 West 22nd Street. The 17 story commercial office building is located just off of Fifth Avenue near the Flatiron Building and Madison Square Park and within two blocks of all major subway surface arteries.

The company will be utilizing the premises for the retail sale of photographic supplies and equipment to the trade and the public. The levels will be connected by a new internal elevator system and stairs which leads to a special meeting and reception facility.

The Calumet Company will also operate a division for the servicing of photo equipment, and maintain executive offices for the New York Region at 22 West 22nd Street.

In tandem with this transaction, an existing retail tenant, COLOR RESOURCES, has merged with Color Images, Inc. and leased additional lower level space for their present digital film processing center; thereby increasing their total space to 6,200 sf including their present ground floor.

The agent for the building, ABS Partners Real Estate, LLC, has also leased offices in this building to such tenants as: ABC Photo, J. Jones Processing, Startraks Photo, John Manno Photography, Rob Polidori and MCR Creative Services. The well known architectural firm of Platt Byard Dovell White occupies the entire 17th floor.

In addition, the 100% leased landmarked building has completely renovated the east lobby which now includes new passenger elevators and new second floor windows. The ownership plans to restore the unique beaux arts façade in the near future and to renovate the west lobby at No. 22. The Centre contains approximately 180,000 sf.

The ABS leasing team of John Gols, Clinton W. Blume, Jr., and Hector Rodriguez, represented the ownership while Marc Horowitz of Kaufman Adler Realty and Gary Trock of CB Richard Ellis were the brokers for Calumet.

The project construction was directed by the ABS management team of Roy Weydig and Thomas Keegan.

ABS Partners Real Estate, LLC is a unique full service Real Estate advisory company specializing in representing property owners in management, leasing, investment sales and acquisitions managing over 4,000,000 square feet of commercial and residential space.

For further information please contact Clinton W. Blume, Jr. at 212-400-6089 or the ABS sales team at 212-400-6060.

ABS Partners Real Estate, LLC
200 Park Avenue South, 10th Floor
New York, NY 10003

Phone – 212-400-6060
Fax – 212-400-9494