AI Platform Altana Signs 21K-SF Lease at 25 Kent
By Mark Hallum November 4, 2022 11:34 am
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An artificial intelligence platform for supply chain management has leased 20,874 square feet at 25 Kent Avenue in Williamsburg, Brooklyn.
Altana inked a 10-year lease to relocate from its current offices at 134 North Fourth Street in Williamsburg following a $100 million Series B investment, and its new 25 Kent outpost will serve as the firm’s headquarters, according to the landlord, Rubenstein Partners. Rubenstein declined to disclose the asking rent.
“As the primary cultivator of New York’s innovation economy, Williamsburg provides a vibrant and creative community for up-and-coming technology companies looking to plant their corporate flag surrounded by various like-minded and forward-looking businesses,” Rubenstein’s Joe Zuber said in a statement.
Rubenstein Partners was represented by Whitten Morris and Peter Riguardi with JLL (JLL), while Sam Seiler and Joe Sipala, also of JLL, negotiated on behalf of Altana.
JLL declined to comment.
Rubenstein owns the eight-story building in a joint venture with Heritage Equity Partners and has been slow to draw tenants since wrapping up construction in 2019.
The 500,000-square-foot development, the first major new office property in the neighborhood in roughly 50 years, has around 330,000 square feet still left for rent but was able to secure deals with Amazon Music, streetwear brand Kith and, most recently, coworking firm Mindspace.
Mark Hallum can be reached at mhallum@commercialobserver.com.
