The Real Deal New York

Podcasting company Gimlet Media signs 27K sf lease at DoBro’s Pioneer Building

It’s the first deal at Quinlan Development Group and Building and Land Technology’s redevelopment of the 270K sf warehouse
June 12, 2017 08:00AM

Renderings of 41 Flatbush Avenue via YIMBY

The developers behind the transformation of a former self-storage building to trendy office space in Downtown Brooklyn signed the podcasting company Gimlet Media Inc. to 27,000 square feet.

The tenant signed a 10-year lease on the seventh floor of the Pioneer Building at 41 Flatbush Avenue, the Wall Street Journal reported. Gimlet Media will be relocating from its office in Gowanus.

It’s the first lease landlords Building and Land Technology and Quinlan Development Group signed since they bought the 10-story former self-storage building for $89.4 million in 2015 from Extra Space Storage Inc.

The partners pumped $30 million into modernizing the 270,000-square-foot building, and earlier this year refinanced the property with $132 million from private equity firm KKR.

“We love that all the millennials are moving to Brooklyn, all the creative people are moving to Brooklyn. We felt that we were in the epicenter,” said Craig Deitelzweig of Building and Land Technology. [WSJ] – Rich Bockmann

(To view more office leasing transactions in Downtown Brooklyn, click here)