Home Energy Management Start-up Moving to Downtown Brooklyn
By Nicholas Rizzi September 11, 2019 5:24 pm
reprints
EnergyHub, a developer of home energy management software, will ditch Gowanus, Brooklyn, for offices in Downtown Brooklyn’s Pioneer Building, Commercial Observer has learned.
The company signed a 10-year lease for 10,000 square feet on the fourth floor of the building at 41 Flatbush Avenue between Livingston Street and Lafayette Avenue, according to landlords Quinlan Development Group and Building and Land Technology. Asking rents in the building are in the high $50s per square foot.
EnergyHub, which was founded in 2007, plans to move from its current digs at 232 3rd Street to the Pioneer Building in March, a spokeswoman for the landlords said.
“Energy Hub is another example of the type of tenant we have always envisioned for this building,” Tim Quinlan, a managing principal at Quinlan Development, said in a statement. “This is a company that is making a difference in the world through strategic energy-efficient platforms and will add to the creative community we are building at Pioneer.”
The owners picked up the 270,000-square-foot property for $90 million in 2015 and secured $132.3 million in refinancing in 2017, as CO previously reported. They’re in the process of completing a $35 million capital improvement program to renovate the former warehouse which includes a landscaped rooftop terrace, a new lobby and indoor bike parking.
Cushman & Wakefield (CWK)’s Joseph Cirone, Ron Lo Russo and Remy Liebersohn represented the owners while Mitti Liebersohn, William Evans and Patrick Steffens of Avison Young brokered it for the tenants. Spokespeople for C&W and Avison Young did not immediately respond to a request for comment.
Other tenants in the 10-story Pioneer Building include flexible workspace provider Spaces, podcast producer Gimlet Media and retailer Blick Art Supply.
