Armored Car Company Brink’s Renews 92K SF at Brooklyn Navy Yard
Security company Brink’s will has locked down a new deal for its longtime cash distribution and storage facility at the Brooklyn Navy Yard, Commercial Observer has learned.
The Richmond, Va.-based corporation renewed a 92,000-square-foot lease on Wednesday for its low-slung building at 652 Kent Avenue, between Rodney and Hopper Streets in South Williamsburg, the landlord brokers confirmed. Asking rent for the double-net, 20-year, Brooklyn lease was $25 a square foot, broker Richard Berzine of Byrnam Wood told Commercial Observer. The new lease begins in September 2019.
Brink’s first leased the site nearly 40 years ago from landlord First Jeffersonian Associates, which ground-leased the lot from the city-owned Brooklyn Navy Yard and built a custom facility for Brink’s. The security company uses the building to store cash and 70-pound bars of gold and silver that go to banks and the Federal Reserve, and it repairs its bulletproof armored trucks there. The building also has a shooting gallery where Brink’s employees can practice their firearm skills.
The Kent Avenue property consists of a single-story warehouse with a 12,000-square-foot mezzanine and a parking lot that can accommodate 150 cars.
Berzine, along with his Byrnam Wood colleagues Gordon Ogden and Jack Molloy, handled the transaction for the landlord. Brink’s represented itself in the deal and didn’t immediately return a request for comment.
David Emil of First Jeffersonian Associates, whose father Arthur constructed the building for Brink’s in 1979, explained that bringing in Brink’s was one of the city’s early efforts to revitalize what was then a partially abandoned shipbuilding hub. When asked to comment on the new lease, he said, “Brink’s is a good tenant and we’re happy they renewed.”