The tide is picking up at Rudin Management’s Dock 72 after a notable prospective tenant jumped ship.
Design firm Huge signed a lease for 71,000 square feet at Rudin and Boston Properties’ Brooklyn Navy Yard development, the New York Post reported. The company will be occupying the top two office floors of the property.
Huge is relocating from an office on Main Street in Dumbo and plans to use its space “more like a clubhouse” than a traditional office, according to the company’s global chief executive office. Amenities at the building include a rooftop conference center, ground-floor food hall, basketball court and a health and wellness center.
Financial terms of the lease were not disclosed. CBRE data reported by the Commercial Observer say asking rents in the building ranged from the mid-$50s to high-$60s prior to the pandemic.
CBRE’s Cara Chayet and David Hollander, plus Winter Stockwell in-house, represented Huge. Boston Properties’ Andrew Levin and Rudin’s Robert Steinman were among those representing the landlord.
The lease comes two months after Vice Media decided to renew at its Williamsburg office, scuttling the company’s potential plans to move to Dock 72. The media company was reportedly eyeing four or five floors at the 16-story, 675,000-square-foot office building.
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In the fall, Rudin and Boston Properties landed cooking and home brand Food52 as its second tenant. The company is leased 42,000 square feet and plans to move into the property during the second half of the year.
The office building opened in October 2019 as the first ground-up office building constructed in more than a decade in Brooklyn. Roughly a third of the building is leased to anchor tenant WeWork, which provides programming to other tenants in the building.
The property has been slow to sign tenants since opening as WeWork’s initial dream to go public imploded. The owners of the building have previously brushed off concerns about its leasing rates, which were likely exacerbated because of the pandemic and the building’s location.
— Holden Walter-Warner