Time Inc. grabs office space at Industry City

Publisher taking 55,000 sf at Sunset Park complex

TRD New York /
Jul.July 09, 2015 12:30 PM

Time Inc. inked a lease Thursday at the Industry City office complex in Sunset Park, Brooklyn, taking 55,000 square feet that will house 300 employees by the end of the year.

The move will coincide with Time’s departure from the Time & Life Building at 1271 Sixth Avenue in Midtown, with the company moving its headquarters to 225 Liberty Street in the Financial District. The Industry City space will house employees from Time’s Technology, Content Solutions and Editorial Innovation departments.

Financial terms of the 15-year lease were not disclosed, though asking rents at Industry City range from $15 to $35 per square foot, according to a spokesperson.

A Savills Studley team of Zev Holzman, Howard Nottingham and Matthew Barlow represented Time, while a Cushman & Wakefield team led by Bruce Mosler represented Industry City.

The 16-building, 6 million-square-foot office complex is home to more than 400 companies employing 4,000 people, according to a press release, with tenants including the Brooklyn Nets, Design Within Reach and MakerBot.

Industry City – developed by Jamestown, Belvedere Capital and Angelo Gordon – is one in a wave of new office developments hoping to capitalize on Brooklyn’s burgeoning office market. The move offers Time “close proximity to where today’s young, creative workforce have planted roots,” Holzman said in a statement. – Rey Mashayekhi


Related Articles

arrow_forward_ios
Council member Carlos Menchaca and Industry City (Credit: Getty Images and Wikipedia Commons)

Carpenters vs. activists: Industry City’s $1B expansion brawl begins

The Daily Digest - Tuesday

Multifamily market slows to a crawl, Industry City’s iffy rezoning kicks off

Cory Elbaum

Angelo Gordon taps new real estate exec after $2.75B fund raise

Industry City CEO Andrew Kimball, Brooklyn City Council member Carlos Menchaca and Industry City (Credit: Getty Images)

Industry City made five concessions for rezoning. It wasn’t enough

Adam Neumann in talks about his future role, Sheldon Solow’s son makes a winery play: Daily digest

Adam Neumann in talks about his future role, Sheldon Solow’s son makes a winery play: Daily digest

Amazon CEO Jeff Bezos and potential industrial sites in Brooklyn (Credit: Getty Images, Google Maps)

Amazon looking to lease up to 1M sf for Brooklyn logistics facility

850 Third Avenue

Salmar Properties trying to renege on Sunset Park manufacturing requirement

From left: Jamestown’s Michael Phillips with the Milk Building at 450 West 15th Street and Google’s Sundar Pichai with the Chelsea Market building at 75 Ninth Avenue (Credit: Google Maps; Phillips via CoStar; and Pichai via Getty)

Google scoops up another Jamestown property in Chelsea for $600M

arrow_forward_ios
Loading...