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Deals & Dealmakers

JLL secures 33,000 s/f for flexible Spaces

JLL has completed a new transaction for Spaces at 413 West 14th Street with building owner Rockpoint Group LLC.

Spaces, which offers creative, flexible workspaces, signed for 33,192 s/f of office space at the Class A, 255,000 s/f mixed-use building.

Spaces was represented by Jim Wenk, executive managing director, and Kirill Azovtsev, executive vice president, both with JLL.

Building owner Rockpoint Group was represented by Paul Amrich, vice chairman; Neil King, executive vice president; and James Ackerson, senior vice president, all with CBRE Inc.

“Located in the heart of the Meatpacking District, 413 West 14th Street was an ideal location for Spaces,” said Wenk.

“Given the open floor plan, easy accessibility, signage, private entrance and high visibility, the building will offer a terrific workspace for Spaces/Regus members. The recent transformation of Meatpacking District and the superb finishes provided by Spaces will complement each other in making this location a crucial asset for members.”

Spaces will occupy the entire second floor at 413 West 14th Street, which is located between Ninth and 10th avenues in the Meatpacking District.

The new location will add to the company’s growing presence in New York, with three workspaces currently open across the city, three more set to open by the end of 2018, and another deal in place for 2019.

“In today’s market, we know that scale and flexibility are crucial for a company’s growth,” said Michael Berretta, vice president of network development for IWG plc, which owns Spaces.

“Nowhere in the country is this more evident than in New York City. With locations set to open in Midtown Manhattan, Hudson Yards, Staten Island, Brooklyn and Long Island City in 2018, Spaces provides options for companies of any size, in any location across the city.”

The five-story 413 West 14th Street was constructed in 1929. Rockpoint Group acquired the ground lease for the mixed-use property in 2016, renovating the property and adding a luxury penthouse suite on the roof.

The building features approximately 209,000 s/f of office space, more than 30,000 s/f of retail, and around 14,000 s/f of storage space.

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