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Deals & Dealmakers

Columbia Property trust signs full floor lease with Drive Shack

Columbia Property Trust announced that it has finalized a long-term lease with Drive Shack for the last available floor at 218 West 18th Street, which brings the 165,586 s/f office building in New York’s Chelsea submarket to 100 percent leased.

Drive Shack, an owner and operator of golf-related leisure and entertainment businesses, will occupy the 13,400 s/f third floor of 218 West 18th Street as its new corporate headquarters.

The building, which Columbia acquired in 2017, is now fully leased to a mix of technology and creative firms and global consumer brands, including beverage and lifestyle company Red Bull, and film production giant Company 3.

“218 West 18th Street continues to attract top-tier creative and lifestyle firms, who are drawn to its mix of warehouse architecture, high-touch tenant service, and the amenities of the Chelsea neighborhood,” said Dave Cheikin, senior vice president of strategic real estate initiatives for Columbia Property Trust.
“Chelsea continues to be a preferred destination for the world’s top tech, media and creative companies, and 218 West 18th Street is located at its core.”

Built in 1912, 218 West 18th Street is a former warehouse that has been transformed into a Class-A office building. The building is in close proximity to 249 West 17th Street, where Columbia recently signed a 215,000-square-foot renewal with Twitter for its New York headquarters. Columbia’s Manhattan portfolio, which is currently 98.5 percent leased, also includes t 315 Park Avenue South, 114 Fifth Avenue, 149 Madison Avenue, and 229 West 43rd Street, as well as a 182,000 s/f ground-up development at 799 Broadway.

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