Quadlogic Controls Relocating to 13K SF at The Factory LIC
Utility meter manufacturer Quadlogic Controls will relocate its offices within Queens to The Factory LIC in Long Island City, Queens, Commercial Observer has learned.
Quadlogic’s parent company, Metergy Solutions, signed the seven-year lease for 12,702 square feet on the fifth floor of 30-30 47th Avenue between 30th Place and 31st Street, according to landlord broker Newmark. Asking rent was $42 per square foot.
The company will relocate from similar-size offices at 33-00 Northern Boulevard in the first quarter of next year, said Newmark’s Brian Waterman, who brokered the deal for landlords Atlas Capital Group, Invesco Real Estate and Partners Group.
Quadlogic Controls was founded in 1982 and builds submeters for residential and commercial buildings, allowing owners to more closely track and measure energy use. The company was bought by submeter provider Metergy in July for an undisclosed amount.
Other tenants at the 1.1 million-square-foot former Macy’s furniture warehouse include the New York City Employees’ Retirement System, chocolatier La Maison du Chocolat and television production company 20th Television.
“[The landlords have] worked very hard to create an environment for tenants to enjoy beyond just their office space,” said Waterman, who represented the landlords with Howard Kesseler, Jordan Gosin and Alex Rosenblum. “It’s not just about leasing space. It’s more about creating the right kind of tenant profile and the right type of tenant mix.”
CBRE’s Liz Lash handled the deal for the tenant. A spokesperson for CBRE declined to comment.
Celia Young can be reached at email@example.com.