Prime Clerk Expands at Liberty Bklyn in Sunset Park
By Chava Gourarie October 20, 2020 9:41 am
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Legal services firm Prime Clerk has expanded its lease at the former Liberty View Industrial Plaza in Sunset Park, Brooklyn, Commercial Observer has learned.
Prime Clerk has signed an eight-year lease at 850 Third Avenue, an industrial and office building along the Sunset Park waterfront renamed Liberty Bklyn—growing from 18,940 square feet to 51,701 square feet, according to information from Madison Capital, which is managing the property for landlord Salmar Properties.
Prime Clerk, which offers third-party legal and administrative business services, will expand its current location on the third floor of the eight-story building with an additional 11,761 square feet, and add 21,000 square feet on the fourth floor for commercial printing and mailing.
A portion of the lease is month-to-month but can be converted into permanent space, per Madison. Asking rent for office space at the property is $34 per square foot.
David Junik, Steve Nadel, Mark Caso and Nechama Liberow of Pinnacle Realty represented the building.
The 1.3 million-square-foot mixed-use building, which is home to an Amazon Prime delivery center, has been repositioned for a mix of office and industrial tenants. In 2011, Salmar purchased the then-vacant warehouse with the plan to upgrade it for a modern crop of manufacturing tenants, but pivoted to a mix of last-mile logistics and office use along the way.
Salmar spent $140 million on repositioning the property, and, in January, the landlord received approval to lease some space to office tenants. Also in January, the building was recapitalized with a $300 million debt package led by Blackstone Mortgage Trust, along with Madison, Meadow Partners and Acadia Realty Trust, CO reported at the time.
The building, which has floor plates clocking in at 180,000 square feet, also includes the 3.5-acre Brooklyn Grange farm on its rooftop, ground-floor retail leased to Bed Bath & Beyond, Micro Center and Saks Off Fifth, and a 386-car parking lot. The large floor plates, along with a 60,0000-square-foot loading zone with 17 loading docs, support a variety of uses by industrial and office tenants.
There were no brokers involved in the Prime Clerk transaction.
