Logistics Startup Flexport Moves From Flatiron District to Chelsea
By Rebecca Baird-Remba March 12, 2018 6:00 pm
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Freight logistics software startup Flexport has outgrown its New York City office and has leased a larger space across town.
The air and ocean freight forwarder has inked a deal for 23,000 square feet on the entire second floor at Kaufman Organization’s 111 West 19th Street between Avenue of the Americas and Seventh Avenue, Crain’s New York Business reported. Asking rent in the deal was $65 a square foot, according to information from CoStar (CSGP) Group. The length of the lease wasn’t immediately available.
It wasn’t clear what brokers handled the transaction for the landlord, but Kaufman Organization’s Sam Stein and Yvonne Chang marketed the space. Stein declined to comment on the deal. Eric Cagner, Matt Siegel and Jon Franzel from Newmark Knight Frank represented Flexport.
Flexport had outstripped its current home, an 11,000-square-foot office at 250 Park Avenue South between West 19th and West 20th Streets, after growing from three employees to 70 over the past two years, per Crain’s. The five-year-old, San Francisco-based firm plans to grow to 175 employees, and its new home can fit up to 200. The move to New York has also made it easier for Flexport to reach local shipping and trucking companies that do business at the Port Newark-Elizabeth Marine Terminal.
The 600-person company also has offices in Amsterdam, Atlanta, Los Angeles, Chicago, Hamburg, Hong Kong and Shenzhen. It offers shipping and customs services as well as real-time shipping data for air freight, ocean freight, and trucking.
Other tenants in the Chelsea property include meal delivery service Plated, legal news provider Law360 and wedding dress retailer Kleinfeld Bridal.
