Despite the anticipated slowdown of commercial real estate, Brooklyn Navy Yard Development Corporation, or BDNYC, is reporting more than 160,000 square feet of new commercial leases within the former industrial complex. This figure does not include an additional 81,000 square feet of lease renewals and an unspecified inventory in their 2021 pipeline.
The largest transactions include a 24,481-square-foot production facility for designer jewelry retailer Catbird, a 13,200-square-foot lease to specialty contractor Smalls Electrical Construction, and a 5,800-square-foot manufacturing space leased by clothing company Storytellers & Creators, which also manufactures personal protective equipment.
“The Yard has established itself as a leading destination for cutting-edge companies attracted to our ecosystem of creative and advanced manufacturing tenants, and this momentum has continued despite the pandemic,” said Johanna Greenbaum, chief development officer at the Brooklyn Navy Yard Development Corporation. “Now we’re excited to build on that momentum by working with one of the city’s top leasing teams to introduce two of our premier spaces to the marketplace.”
To keep up the momentum, BDNYC also announced a new partnership with CBRE, one of the country’s top commercial real estate leasing agencies. The agreement will establish CBRE as the exclusive leasing and marketing agent for a large block of creative office spaces on the top floors of Building 303 and Building 77 near the waterfront edge of Brooklyn Navy Yard.
Building 303 opened to light manufacturing and creative office tenants this fall and is part of the Admiral’s Row complex on Yard’s western edge. The building’s top floor office suite spans 50,000 square feet and includes 12-foot-tall ceilings, access to two passenger elevators, and direct access to two freight elevators.
Following a $187 million industrial-to-commercial renovation, Building 77 houses a mix of design and manufacturing companies, and a large food hall that is open to the public. The 70,000-square-foot divisible 15th floor boasts four private outdoor terraces and four freight elevators. The 16th floor offers roughly 8,000 square feet of interior space and 16,500 square feet of outdoor roof space well-suited for a restaurant, or event or hospitality space.
“The top floors of buildings 303 and 77 offer exactly what the city’s creative workforce will want after the pandemic: wide-open floor plates, plentiful outdoor amenity space with amazing views, a collaborative campus environment, and a location near where so much of the talent lives,” said CBRE executive vice president Brad Gerla, who will have executive oversight of the Brooklyn Navy Yard leasing team.