Industry City signed a new five-year lease with tuition-free trade school The Marcy Lab School for 16,500 square feet.
The school, which prepares students to enter high-paying fields after only a year of full-time study, will open a school on the 35-acre, Sunset Park, Brooklyn campus. Attendees will be able to engage in existing programming at IC’s Innovation Lab, which is run by a public-private partnership that includes IC, New York City College of Technology and nonprofit groups. Asking rents at Industry City generally range between $15 and $40 per square foot, according to a representative for the complex.
Industry City was represented in-house by Jeff Fein and Matt Stewart. Savills’ David Carlos and Michael Bertini worked on behalf of Marcy Lab.
“This had to be more than just any space in Brooklyn. We needed to find a campus environment which was aspirational and reflective of a true college experience,” Carlos said in a statement. “The collaborative campus environment combined with the tech ecosystem at IC are a perfect fit for Marcy Lab School — enabling its students and graduates to thrive.”
The new lease comes less than a month after Mayor Eric Adams tapped then-IC CEO Andrew Kimball to lead the New York City Economic Development Corporation, following reports that the mayor’s previous choice, Carlo Scissura, lobbied city officials without registering as a lobbyist.
Corporate Transportation Group and Los Angeles-based electric scooter manufacturer Voro Motors also recently signed leases at Industry City, occupying a combined 13,000 square feet in the revitalized warehousing complex owned through a venture of Belvedere Capital, Jamestown Properties, and Angelo Gordon & Company.
“Core to Industry City’s success has been attracting forward-looking companies and then supporting them with an array of services, including access to quality local talent,” Fein said in a statement. “The Marcy Lab School embodies both attributes; it’s an innovative business, but it also provides its fellows with skills critical to the economy of today and of the future.”
*This is an article from Commercial Observer published on March 2, 2022; See the original article here.
Learn more about leasing space at IC here.