The parent company of household staples including Rubbermaid and Elmer’s Glue is headed to Dumbo to expand its e-commerce business.
Hoboken-based Newell Brands has signed a lease for 47,000 square feet to open an office at Empire Stores, an office building located on the Brooklyn waterfront at 53-83 Water Street in Dumbo. The company will receive $4 million in tax credits through New York State’s Excelsior Jobs Program, according to Crain’s.
Newell is going to set up shop on the third floor of the property, and its lease means the six-story, 400,000-square-foot building is now completely filled up. Other tenants in the building include retailer West Elm, advertising firm 72andSunny and United Technologies.
Dumbo has seen a flurry of activity in recent years, partially thanks to Jehovah’s Witnesses’ massive selloff of its land in the neighborhood. A recent loan to Empire Stores from M&T Bank valued the building at $415 million. [Crain’s] – Eddie Small