PR and Advertising Firms Lease 9K SF at 55 Washington Street
By Mark Hallum March 16, 2023 1:09 pm
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Two Trees Management’s portfolio in Dumbo, Brooklyn, continues to draw tenants with four new leases, Commercial Observer has learned.
Foundation PR and Invisible North will be sharing the fourth floor at Two Trees’ 55 Washington Street after signing 5,236- and 3,797-square-foot leases, respectively.
Both firms moved into the space March 1, each with five-year leases. Invisible North — an advertising outfit — is relocating from 425 Broadway, according to Two Trees, which did not disclose asking rents in the deals. It’s not clear where Foundation PR is relocating from.
“Location, term flexibility and move-in-ready prebuilts are driving tenants to Two Trees in Dumbo,” Two Trees commercial leasing managing director Alyssa Zahler, who represented the landlord in-house alongside Elizabeth Bueno and Nicole Serras, said in a statement.
“The small and midsize companies we are signing leases with are looking for built space that is close to where they and their employees live, and located in a vibrant neighborhood and building — which is exactly what our portfolio provides,” Zahler said.
Foundation PR was represented by John Moran of Newmark (NMRK), who declined to comment, while Sam Reznitsky of Miyad Realty negotiated on behalf of Invisible North. Miyad did not immediately respond to a request for comment.
The Rounds, a company that delivers personalized home essentials, also signed a 4,395-square-foot lease and moved into the space Jan. 13, according to Two Trees. The Rounds’ move was a relocation from the WeWork location at 195 Montague Street.
Exposure Communications also recently relocated to 8,672 square feet at 45 Main Street, another Two Trees-owned building in Dumbo, with a March 1 move-in date, CO recently reported.
A landmarked building, 55 Washington Street was built in 1909 and spans nine stories and 337,000 square feet.
Mark Hallum can be reached at mhallum@commercialobserver.com.
