Body Modeling Startup Signs New Deal at 37 East 18th Street [Updated]
Terence Cullen May 4, 2016, 2:26 p.m.
A startup that digitizes the shape of the human body for apparel, health and wellness is moving to new office space at Cornerstone Management’s 37 East 18th Street, Commercial Observer has learned.
Body Labs, which has partnered with the United States Army to develop equipment for female soldiers, is headed for the entire eighth floor of the building, according to the tenant’s broker, TheSquareFoot. The five-year deal is for 7,500 square feet.
The company will move into the building between Park Avenue South and Broadway later this month, said Ken Quinlan of TheSquareFoot, who represented Body Labs. Currently, the three-year old company is listed on the same block at 7 East East 18th Street. Because it has been in growth mode, he said, Body Labs needed more space than the 4,500 square feet it leases, where about 15 to 20 people are based.
“They’re about to bring on a bunch more individuals,” he said. “They needed a space that was much more conducive to their work flow.”
Asking rents at the building range from $62 to $65 per square foot, according to CoStar Group.
“We’ve had a run of very, very successful [information technology] companies,” said Leonard Fox of Cornerstone Management, who represented the landlord in-house. “We’ve been lucky with the tenants we’ve had there.”
Update: This story was edited to include the correct identity of the landlord. It is Cornerstone Management, not TF Cornerstone.