The Real Deal New York

Uber expands to 64K sf at Terminal Stores

The company inked a deal to take 52K sf at the Chelsea complex in 2014
April 18, 2017 02:20PM

Waterfront NY’s Terminal Warehouse (Credit: WFNY)

Uber is increasing its footprint at Waterfront New York Realty’s Terminal Stores complex in Chelsea by nearly 12,000 square feet.

The ride-share company signed up for 52,350 square feet at the building in 2014. It’s now added an extra 11,990 square feet to its lease, the Commercial Observer reported, bringing its total space to 64,340 square feet on the third floor of the building at 636-638 West 28th Street.

The asking rent in the deal was $50 per square foot, according to the publication. The lease, amended last week, is for 10 years and eight months. Uber moved into the extra space immediately, according to the publication.

The Terminal Stores complex spans 1.2 million square feet, and tenants include Flextronics International USA. In 2014, investment firm GreenOak Real Estate acquired a 49 percent minority stake in the building for roughly $300 million, Crain’s reported at the time.

Alexander Chudnoff and Dan Turkewitz of JLL represented Uber. Waterfront was represented in-house by Christopher Flagg and Peter Pachios, according to the publication. [CO]Miriam Hall