Brooklyn’s leasing drought is over.
In the largest private lease this year, Rent the Runway will be moving to 10 Jay St., one of the coolest warehouse renovations on the Dumbo waterfront.
When the fashion company moves in 2020, the 83,000 square feet will hold 500 employees, doubling the size of its current spot on the sixth floor of 345 Hudson St. in Hudson Square, where Google is expanding.
Its four top floors at 10 Jay St. include a penthouse with a private, 10,000- square-foot terrace. A 5,000-square-foot roof-deck is shared by other tenants, including Translation LLC and Soho House’s co-working brand, Soho Works. The latter leased 48,424 square feet earlier this year on the bottom two floors when asking rents were $69 to $75 per square foot.
Rent the Runway’s interiors will be designed by WeWork, with which Rent the Runway has drop-off and pop-up partnerships.
The CBRE team of Frederick Fackelmayer, Alex Benisatto and Sam Mann represented the tenant, which has accepted the Excelsior Jobs Tax Credit from Empire State Development.
The company wanted to be in an area with other tech outfits, and the Brooklyn location, outdoor space and open workplaces will enable it to recruit and retain employees.
The owner-developers Glacier Global and Triangle Asset have replaced the entire front of the former warehouse with a dramatic glass facade designed by ODA. The owners were represented by Howard Hersch, Brett Harvey and Sam Seiler of JLL.
Over the last year, city agencies have been the largest Brooklyn lease signers with just a handful of smaller private companies taking space.
Most recently, the Department of Transportation leased 92,000 square feet at 101 Varick Ave. and the district attorney signed for 76,613 square feet in Sunset Park for storage, as the Commercial Observer reported.