The new space will house the East Coast division of Jim Henson's Creature Shop, which provides digital visual effects, animatronic creatures, animation and soft puppets to the international film, television, online and advertising industries. The company is based in Los Angeles and New York.

James DeLuca, a senior director at Cushman & Wakefield, represented the Jim Henson Company in its site search and in lease negotiations with the building's ownership, Acumen Capital Partners. DeLuca says in a release that by moving to LIC, the tenant will benefit from "the extensive economic incentives related to its relocation, as well as a new, creative and light-filled workspace in an up-and-coming neighborhood adjacent to the film and television studios of the area and still close to the advertising and theatrical centers of Manhattan."

Built in 1919, the 301,000-square-foot 37-18 Northern Blvd. is undergoing a $10-million renovation, which includes new windows, exterior lighting and signage; elevator, electrical and building system upgrades; lobby renovations and the creation of modern common corridors. Along with the Jim Henson Co., major tenants include accessories designer Eric Javits, telecommunications provider Broadview Networks and Standard Motor Products. The building was formerly known as the Standard Motors Building.