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Squarespace grabs even more space at Trinity’s 225 Varick Street
Deal brings the building to full occupancy for first time in 20 years
Squarespace is expanding its footprint at 225 Varick Street with a new lease for 50,000 square feet on two additional floors, bringing the building to full occupancy for the first time in 20 years.
The company, which helps users create websites, initially signed a 15-year lease at the building for about 90,000 square feet in 2014. Asking rent on the new lease was in the high $70s, and it will last for just over 10 years so that both leases will end at the same time, sources said.
Brokers from CBRE handled both sides of the deal, with Rocco Laginestra and Paul Myers representing Squarespace and Howard Fiddle, Paul Amrich and Neil King representing 225 Varick Street.
Shake Shack just inked a lease at the Hudson Square building as well, agreeing to a 15-year deal for 39,000 square feet in September. The building is part of Trinity Real Estate’s Manhattan portfolio, and the company entered into a massive Hudson Square deal in 2015 with Norges Bank Investment Management.