Creative Agency Leads Trio of Dumbo Leases
Two creative agencies and a real estate investment company recently inked a trio of leases across two neighboring properties in Dumbo, Brooklyn, brokerage TerraCRG announced yesterday.
Ad agency Experience Interaction signed a 7,076-square-foot lease on the third floor of Two Trees’ 55 Washington Street, between Water and Front Streets. The company, which has worked with clients like the Afropunk Festival and Jose Cuervo, currently has offices down the street from TerraCRG at 646 Dean Street in Prospect Heights. Asking rent in the five-year deal was $49 a square foot.
Two Trees also signed Duke Properties, a real estate investment company, to a 1,714-square-foot space on the building’s fourth floor for five years. Asking rent in the transaction was $52 a square foot.
55 Washington was one of the first loft buildings to be converted to office space in Dumbo, and the nine-story property is home to tenants like Vice Media, Gleason’s Gym, Equinox Fitness and digital education company Amplify.
B-Reel, a branding and media firm, will take offices across the street at 31 Washington Street, a condominium building between Plymouth and Water Streets. The company will depart from the nearby 77 Sands Street, a former Jehovah’s Witnesses building, for a 6,250-square-foot below-grade space at 31 Washington. The asking rent was $36 a square foot. B-Reel has worked on campaigns for brands like Fenty, Nike, Netflix, H&M and Google.
TerraCRG’s Caroline Pardo and Micah Hecht represented tenants Experience Interaction and Duke at 55 Washington, while Two Trees handled the deal in-house. Chris Havens of TerraCRG represented the landlord, Charles Cara, at 31 Washington Street, and tenant B-Reel did not have a broker.
“It is truly incredible to see the breadth of brands and industries that are relocating their companies to Dumbo,” Pardo said in prepared remarks. “The neighborhood has so much to offer as far as diversity and amenities, which is attractive to steadfast organizations.”