Video equipment rental giant signs 25K sf lease in Industry City 

Space to be used as "equipment hub"  in addition to offices

New York /
Jan.January 31, 2019 04:45 PM

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.

Related Articles

arrow_forward_ios
Apollo Global Management will take over craft retailer Michaels in a deal that values the company at $3.3 billion. (Wikipedia Commons, iStock)
Craft retailer Michaels to go private in $5B deal
Craft retailer Michaels to go private in $5B deal
 JLL CEO of capital markets Richard Bloxam and Roofstock CEO Gary Beasley (JLL, Roofstock, iStock)
JLL gets in rental home business
JLL gets in rental home business
Mack-Cali Realty CEO Mahbod Nia and MaryAnne Gilmartin (Photos via Mack-Cali Realty)
Mack-Cali Realty names Mahbod Nia as CEO
Mack-Cali Realty names Mahbod Nia as CEO
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
Mayor Bill de Blasio (Getty, iStock)
NYC to revive $17B in public construction projects
NYC to revive $17B in public construction projects
Houston House at 298 East 2nd Street and Matt Lee (Houston House, LinkedIn)
Developer Matt Lee to auction off East Village condo
Developer Matt Lee to auction off East Village condo
arrow_forward_ios

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

Loading...