Video game developer Avalanche Studios has completed a transaction to expand its office space at 536 Broadway. Avalanche picked up an additional 8,655 square feet in the recent transaction, Ira Rovitz, managing director at Newmark Grubb Knight Frank, who represented the tenant, told The Commercial Observer.
The deal is a 10 year lease, according to David Grijns, general manager of Avalanche Studios’ New York office. Mr. Rovitz declined to provide financial details of the transaction.
Avalanche took occupancy at the building in early 2012 with original square footage of 9,705, Mr. Rovitz said. Avalanche quickly outgrew its original office space, but there was never a search for a new location, since the company knew space was coming available, he noted. “It was an opportunity when we originally did the lease,” he said.