Uber Cruising Into Bigger Digs at the Terminal Stores Building
By Lauren Elkies Schram April 17, 2017 6:23 pm
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Uber, which signed a 52,350-square-foot lease at the Terminal Stores building in 2014, has added nearly 12,000 square feet to its digs, Commercial Observer has learned.
The company, which has a mobile app which connects riders with drivers, has tacked on 11,990 square feet at 636-638 West 28th Street between 11th and 12th Avenues, giving the company 64,340 square feet on the third floor, a source with knowledge of the deal said. The lease is for 10 years and eight months, and Uber re-upped its 52,350 square feet for the same time frame.
The lease amendment was signed last week, and Uber took occupancy of the additional space immediately. The asking rent in the deal was $50 per square foot, the source said.
Other tenants in the 1.2-million-square-foot revitalized West Chelsea warehouse complex include beauty company L’Oréal USA and Flextronics International USA, a contract design and manufacturing firm.
JLL’s Alexander Chudnoff and Dan Turkewitz represented the tenant in the deal. The landlord, Waterfront New York Realty, was represented in-house by Christopher Flagg and Peter Pachios. JLL’s spokesman didn’t immediately respond with a comment from the brokers and the landlord’s representatives didn’t either.
