Humanscale Nabs 33K SF for New HQ at Grace Building
By Lauren Elkies Schram January 22, 2018 7:00 am
reprints
Humanscale, a designer and manufacturer of ergonomic office products, will be relocating its U.S. headquarters from 11 East 26th Street to the Grace Building, Commercial Observer has learned.
The company has leased 33,000 square feet for the entire 15th floor at the Midtown West building with an address 1114 Avenue of the Americas on Bryant Park. The deal is for 10 years, according to Brookfield Property Partners, which owns the building with The Swig Company. The space will house Humanscale’s headquarters as well as a design studio.
Brookfield declined to provide the rent, but on the building’s lower floors, the asking rent is in the high-$80s per square foot.
“Our new headquarters in the Grace Building represents a great opportunity for Humanscale to establish a space that is welcoming to our clients and reflects the values of our brand,” Humanscale Founder and CEO Robert King said in a statement. “The location of this iconic New York building will be a great benefit for our team as we open it up to more visitors and events.”
Once Humanscale moves in later this year, it will be able to have all employees on one floor. “Most importantly to King, the new location will feature a design that speaks to the brand’s core values: functionality, simplicity, longevity and sustainability,” according to a press release from Brookfield.
The property between West 42nd and West 43rd Streets is a 49-story, 1.6-million-square-foot office building, which includes 42,000 square feet of retail and a 30,000-square-foot outdoor plaza. Tenants include Gabriel Kreuther, Bluestone Lane, Joe & the Juice, Kreuther Handcrafted Chocolate, Sweetgreen and STK.
“In addition to designing and manufacturing high-performance products that are simple, functional and that stand the test of time, we are committed to achieving a net positive impact on the earth,” King said in prepared remarks. “This imperative will be top of mind as we specify products and materials for the new space.”
JLL (JLL)’s Deb van der Hayden and Paul Ferraro represented Humanscale in the deal. Brookfield was represented in-house by Duncan McCuaig and Alex Liscio, alongside CBRE (CBRE)’s Ken Rapp, Peter Turchin, Sara Pontius, Zak Snider and Cara Chayet. Spokespeople for JLL, CBRE and Humanscale didn’t respond with a comment.
