The developers behind the Industry City office megaproject in Sunset Park are transforming one building at the complex into a 500,000-square-foot space devoted to technology, media and creative sector tenants.
The property known as Building 19, which already houses the Brooklyn Nets’ practice facility, will see its seven floors beneath the NBA franchise’s space upgraded through basic infrastructure improvements as well as new windows and a new lobby.
A Newmark Grubb Knight Frank team led by Tri-State region president David Falk is the exclusive leasing brokers for the space and will work alongside an internal Industry City team led by Kathe Chase, according to the Commercial Observer.
The partnership behind Industry City – led by Jamestown and Belevedere Capital – has already leased more than 2 million square feet of space at the 6 million-square-foot complex, including more than 1 million square feet devoted to manufacturers, according to a release.
But the development has had its challenges, with Jamestown recently scrapping plans for college dormitories at Industry City as part of a rezoning that would enable the development of retail space and two hotels.
And Makerbot, the 3-D printing firm that in many ways epitomized the wave of so-called TAMI tenants that have spurred the Brooklyn office market and driven demand for projects like Industry City, is downsizing its space there by 90,000 square feet. [CO] – Rey Mashayekhi