Kids entertainment company more than doubles space in LIC

Spin Master will lease a total of almost 51K sf in the Factory building

New York /
Jan.January 11, 2019 05:20 PM

The Factory in Long Island City

A children’s entertainment company based in Canada is more than doubling its foothold at the Factory in Long Island City.

Spin Master has signed a nearly 26,000-square-foot six-year lease at the building, the property owners announced on Friday. Cardinal Toys, the games and puzzle division of the company, previously leased 25,000 square feet on the building’s sixth floor.

The deal brings Spin Master’s total footprint in the building to just under 51,000 square feet.

A team of Brian Waterman, Howard Kesseler, Jordan Gosin and Alex Rosenblum from Newmark Knight Frank negotiated the deal.

The Factory is located at 30-30 47th Avenue in Long Island City, and asking rents typically are in the low $40s per square foot. Spin Master will join other tenants at the building including HALO Branded Solutions, Ralph Lauren and Macy’s.

Invesco Real Estate, Atlas Capital Group and Partners Group all co-own the building. Square Mile Capital sold its stake in the property to Atlas and Partners in April in a deal valuing the property at $400 million.


Related Articles

arrow_forward_ios
From left: Adam Weiner and John Fish (Getty, LinkedIn, Curry)
Developer destroyed potential evidence in battle over $800M project
Developer destroyed potential evidence in battle over $800M project
Fromk left: Mauricio Umansky, Christian Ulbrich, and Scott Rechler
They said what now? Real estate quotes of the week
They said what now? Real estate quotes of the week
RXR's Scott Rechler, Tamir Shemesh, Richard Meruelo, and Maria Meruelo (Getty, Serhant, Coldwell Banker)
Breakups, layoffs and walkaways: No love in real estate last week
Breakups, layoffs and walkaways: No love in real estate last week
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Multifamily player Tides Equities faces $6.5B dilemma in the Sun Belt
Governor Kathy Hochul, casino chips, film camera
How Hochul’s film tax credit, casino plan affect real estate
How Hochul’s film tax credit, casino plan affect real estate
Kohler Interiors' Rachel Kohler with  21-05 51st Avenue (Loopnet, Getty)
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
Tile retailer Ann Sacks inks 21K sf lease in Long Island City
Gov. Kathy Hochul
Hochul pitches conversion tax break. Will developers bite?
Hochul pitches conversion tax break. Will developers bite?
A photo illustration of Mohegan Sun's Ray Pineault and Soloviev Group's Stefan Soloviev (Getty, Soloviev Group, Mohegan Gaming & Entertainment)
Soloviev partners with Mohegan on casino bid
Soloviev partners with Mohegan on casino bid
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...