Cannabis Marketplace LeafLink Takes 13K SF at 80 Broad
By Sarika Gangar February 12, 2020 12:42 pm
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LeafLink, an e-commerce site serving the cannabis industry, has expanded to 12,863 square feet at 80 Broad Street in the Financial District, Commercial Observer has learned.
The company signed a five-year lease for the full 11th floor of the 36-story building, located between Stone and Beaver Streets, according to JRT Realty Group, which represented the tenant. Asking rents at the Broad Street Development and Invesco-owned property were $55 per square foot.
The company, which provides a wholesale ordering platform for cannabis retailers, first moved into the building in March 2019 and previously occupied 6,000 square feet on the 20th floor.
“This is LeafLink’s third transaction in the building,” said JRT’s Greg Smith in prepared remarks. “The company is growing at a rapid pace.”
LeafLink, which launched in 2016, counts more than 3,500 retailers who use the site to bulk order goods from more than 1,200 vendors, according to its website. The company also has offices in Los Angeles, San Francisco, Austin, Denver, Seattle, and Toronto, Canada.
Tenants at 80 Broad include coworking company Regus and law firm McGivney & Kluger, according to CoStar Group. The property was recapped in late 2017, with Invesco coming in as an equity partner, for a valuation of $235 million, as CO reported.
The landlord was represented in-house by David Israni. Israni did not immediately respond to a request for comment.
