Toy Maker Hazel Village Takes 5K-SF at Monadnock’s New Gowanus Development
By Mark Hallum October 13, 2023 12:56 pm
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A toy manufacturer is getting the assembly line moving in a new development in Brooklyn on the border of Carroll Gardens and Gowanus.
Hazel Village — which partners with makers in Peru, Nepal, Cambodia and Colombia to create stuffed animals — signed a lease for 5,000 square feet on the second floor of Monadnock Development’s mixed-use development at 300 Huntington Street, according to the developer.
The length of the lease and the asking rent were not disclosed, but the national average for industrial space was $9.22 per square foot in the third quarter of 2023, according to a report from Savills/" title="Savills" class="company-link">Savills.
Monadnock did not disclose who brokered either side of the deal.
The 136,000-square-foot mixed-use development sits on the edge of the Gowanus Canal and is coming online following the finalization of a rezoning of the neighborhood near the end of 2021.
While the rezoning, which specifically focused on housing production in Gowanus, did not directly affect the development of 300 Huntington, Monadnock expects there to be benefits from the mile-long riverwalk planned there, as well as 3.6 acres of waterfront greenspace.
The development has up to 49,000 square feet of office — 37,000 square feet of which will be used by Monadnock for its own offices — and 17,000 square feet of retail.
Mark Hallum can be reached at mhallum@commercialobserver.com.
