Belvedere Capital-Led JV Secures Tenants at Brooklyn Hub

Industry City. Image courtesy of CommercialEdge

Furniture brand West Elm, supplier of kitchen and bath products Kohler Co. and construction equipment company Hilti have signed leases at Industry City in Brooklyn’s Design District.

The three leases total 37,106 square feet of retail space in Building 1. The new tenants will start their operations at the property later this year.

Industry City Managing Director Jim Somoza, along with SCG Retail Partner Chase Welles and Associate Taylor Onosko, represented the landlord, a joint venture led by Belvedere Capital consisting of Jamestown, Angelo Gordon and GIC.

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Partner Jacqueline Klinger and Associate Vice President Ian Rice from the same brokerage firm assisted Kohler in signing the lease. Newmark Vice Chairman Ariel Schuster brokered the deal on behalf of West Elm, while Cushman & Wakefield Senior Director Mitzi Flexer and Senior Transaction Manager Steven Taylor represented Hilti.

Dynamic New York City hub, diverse range of tenants

West Elm is expanding its campus presence by moving its outlet store from Building 4 to a space twice as large. Meanwhile, Kohler and Hilti are establishing their presence within the campus for the first time, joining a variety of design retailers, including Porcelanosa, Design Within Reach Outlet, RH Outlet, Shakuff Lighting, abc carpet & home Outlet, IC Store by WantedDesign, as well as CityFoundry vintage furniture and artifacts retailer and the Soil to Studio block textile brand.

Several other architecture and design studios are also present at the property. The 8,500-person campus currently houses more than 550 businesses.

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Located at 220 36th St. 2A, the 35-acre mixed-use complex comprises 16 waterfront buildings and came online in 2013 as an adaptive reuse project after being converted from industrial to office, CommercialEdge reveals. The ownership group acquired the 5 million-square-foot hub in the same year it was repurposed, according to the same source.

The Industry City Design District, which is part of the larger Industry City hub, spans more than 125,000 square feet along the Second Avenue corridor, Building 1 and the Makers Guild. It is a central location for homeware shopping, offering a diverse range of design retailers, studios and retail destinations.