Instacart to open first NYC office

$2B Grocery delivery startup signed a three-year lease at 580 Broadway in Soho

New York /
May.May 07, 2015 05:32 PM

Grocery delivery startup Instacart is opening its first office in New York City, The Real Deal has learned. The firm, which is now valued at a whopping $2 billion, signed a three-year lease for 3,000 square feet at 580 Broadway.

Another startup, commercial tech brokerage TheSquareFoot, represented Instacart in the deal. The landlord, Broad Prince Realty, was represented in-house. Asking rents at the property are $62 per square foot.

Instacart, which is headquartered in San Francisco, recently raised $220 million in a Series C funding round. The firm, whose partners include Whole Foods, is growing rapidly, which means that it’s likely to take on more office space in the near future. Several tech firms have started out with small offices in New York only to expand rapidly. Linkedin, for example, started out with a small sublease in the Empire State Building in 2009 and now occupies 160,000 square feet in the city, making it one of the largest tenants in the building.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
A photo illustration of No. 15 Shouson Hill Road West in Hong Kong (Emperor International Holdings Limited, iStock)
Hong Kong’s priciest 2022 home fetches $111M
Hong Kong’s priciest 2022 home fetches $111M
Extell's Gary Barnett, Robert Gans and an aerial of 616 11th Avenue (Robert’s Steakhouse, Google Maps)
Investor Robert Gans files for bankruptcy to thwart Barnett, Eli Tabak
Investor Robert Gans files for bankruptcy to thwart Barnett, Eli Tabak
Accurate CEO Jack Klugmann and the Fairfield, CT Metro North train station (Accurate, Robert Mortell/via Wikimedia Commons, iStock)
NJ developer buys languishing project in Fairfield
NJ developer buys languishing project in Fairfield
Kohl's CEO Michell Glass (Kohl's, iStock)
Kohl’s looking to cash in on $8B real estate portfolio
Kohl’s looking to cash in on $8B real estate portfolio
From left: Marjorie Velázquez, Vanessa Gibson, and Dan Garodnick with Bruckner Boulevard
Bronx BP defies Nimbys on controversial Throggs Neck project
Bronx BP defies Nimbys on controversial Throggs Neck project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...