Two Big Industrial Tenants Grow at Brooklyn Army Terminal
By Rebecca Baird-Remba June 11, 2018 11:18 am
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A watchseller and an electronics parts manufacturer both signed deals last month to expand at the Brooklyn Army Terminal in Sunset Park, according to the landlord, New York City Economic Development Corporation.
Jomashop, a wholesale luxury goods retailer that sells watches, handbags and jewelry, is expanding to 107,000 square feet at 140 58th Street, the terminal’s main building. The company inked a 10-year deal to grow by 55,000 square feet on the sixth floor of the complex, which sits between 58th and 63rd Streets and Second Avenue and the East River, an EDC spokesman told Commercial Observer.
“We love the energy and the positive vibe that the Brooklyn Army Terminal gives us, it’s a first-class facility, for both logistics and running our offices!” Jomashop President Marvin Sternberg said in a statement. “Having been born and raised right here in Brooklyn and having the good fortune of being right here again is a true blessing. We look forward to enjoying the new facility, which will allow us to grow our Jomashop family.”
Altronix, which manufactures electronics parts for power and data transmission, is increasing its space to 130,000 square feet on the second and third floors of 140 58th Street. The 10-year deal paves the way for the business to add 30,000 square feet to its current presence in the building.
“When Altronix required more space to facilitate its expansion more than two decades ago, we saw the Brooklyn Army Terminal as a ‘diamond in the rough,’ ” said Alan Forman, the president of Altronix, in prepared remarks. “Our decision to locate our global headquarters and operations here paid off with immeasurable success.”
Asking rent in both transactions was $20 per square foot. Brokers weren’t involved in either deal.
