Industry City
VER Technologies, a major provider of film and television production equipment worldwide, is the latest media company to move to Industry City.
The Los Angeles-based company announced today that it is moving its New York headquarters from Midtown Manhattan to the Brooklyn complex, where it will take up 25,000 square feet on the second floor at 147 41st Street.
The space, located in Building 20 in the southeastern corner of the complex, will be used not only for offices but also as an equipment hub for a range of video production clients, including TV, film, sports, and corporate clients.
Joel Schneider of Hilco Real Estate represented VER in the five-year deal, while Industry City’s internal leasing team represented the landlords.
Industry City is owned by a partnership that includes Jamestown Properties, Belvedere Capital, Angelo, Gordon & Co., Cammeby’s International and FBE Limited.
VER’s relocation comes soon after a reinvention of another kind. The company filed for bankruptcy last April, and then merged with Production Resource Group (PRG), another video production service provider.
The newly organized company will continue to operate VER and PRG as distinct brands, with PRG taking over VER’s various service divisions while VER refocuses on equipment rental.
More than three dozen media and production companies have now moved to Industry City, including Conde Nast and Essence magazine. This entertainment corridor in Sunset Park could soon be supplemented by a film and television studio at Bush Terminal, where the city is planning to open a Made in New York campus.