Two jewelry distributors, two set designers, an importer of Chinese glass products and a custom cabinet maker are among the companies strengthening their presence at the former military facility in the borough. Overall, the 11 collectively provide 73 jobs to the New York City-owned waterfront site that is home to 220 private-sector tenants approximately 4,100 employees.
Leading the transactions, Daddy-O Productions is renewing its 2,500-sf lease and has signed on for an additional 1,750 sf; Jasco renewed its 3,600-sf lease and added 2,200-sf as part of an expansion that is expected to add 10 jobs to the 20-employee firm; and Scenicorp of New York added 1,400 sf to its existing 10,000 sf of space.
In addition, December Box is taking 1,350 sf in a relocation bid from Crown Heights; Global Business Trading is leasing 2,700 sf; MAM Construction is relocating from Flatbush to 2,200 sf at the navy yard; Noted, LLC is taking 1,000 sf; Personalized Monograms is renewing its 1,250-sf lease for five more years; Rapid Services, Inc. is renewing its 2,000-sf lease for five more years; Thermomechanics is renewing its 1,600-sf lease for another five years; and VOM Carpentry is taking 1,400 sf.
"We are proud to nurture New York's entrepreneurial spirit here at the Brooklyn Navy Yard," says Brooklyn Navy Yard Development Corp. president Eric Deutsch in a statement. "Time and time again, the Brooklyn Navy Yard has proven its ability to help small companies grow and succeed."
The BNYDC advertises leasing rates from $8 to $22 per sf and floor plan choices ranging from 500 sf to 100,000 sf. In addition, the Brooklyn Navy Yard is in the New York State Empire Zone--which entitles business to a range of benefits, including tax credits, according to the BNYDC.
In July, the city outlined plans to create as much as 500,00 sf of additional industrial space in the park's western section, as GlobeSt.com previously reported. The expansion effort is part of an economic stimulus for the surrounding communities. Also, the city will provide $71 million over the next five years from its capital budget targeted toward infrastructure improvements.
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