Shyp Docks at Brooklyn’s Industry City
Shyp, the San Francisco-based shipping startup, signed a 10-year lease for its first permanent New York office in Brooklyn’s Industry City.
First reported by Crain’s New York Business, Shyp has already moved into its 14,000 square foot space, which is now serving as the company’s central packaging and distribution facility for New York City and the center of its East Coast operations.
“With deep history as a central hub for shipping and exports, Industry City is a strategic location for Shyp’s New York City operations, which currently span Manhattan and Brooklyn,” said Kevin Gibbon, CEO and co-founder of Shyp, in a press release.
Shyp is attempting to revolutionize how goods are transported through its on-demand app and service. The company operates by having the customer take a picture of the item he or she wishes to send, entering its destination address in the app and then having Shyp retrieve the item. Shyp cuts cost by using custom-sized boxes for every item and utilzing an algorithm to calculate the lowest shipping cost.
Shyp also has a San Francisco location, where it was founded in 2013.
CBRE’s Ben Fastenberg represented Shyp in negotiations, while Industry City’s in-house team facilitated the transaction for the complex. The lease was signed last month.
Located in Brooklyn’s Sunset Park, Industry City is a 16-building, 6-million-square-foot complex owned by Belvedere Capital, Jamestown and Angelo Gordon.