Art Partner will occupy 10,000 s/f at City Point, with a 15-year lease with occupancy commencing on January 1, 2014. The company also has offices in London and Paris.
City Point is a 1.3 million square-foot development that includes 675,000 s/f of retail/commercial space anchored by Century21 Department Store, and 690 residences.
The commercial component also includes 30,000 s/f of office space geared toward Brooklyn’s creative and technology sector and a seven-screen Alamo Drafthouse Cinema.
Founded in 1992, Art Partner provides creative advertising content for clients that include Burberry, Gucci, Michael Kors and L’OREAL. Its editorial clients include US Vogue, Vanity Fair, Harper’s Bazaar, LOVE, and Interview.
Kenneth Bernstein, president and CEO of Acadia Realty Trust, said “We are thrilled that Art Partner is joining with us to create the most exciting mixed-use property in Brooklyn.
“When we acquired this property, we knew we had an opportunity to create a truly transformative project. We are more excited every day, and we are thrilled that a company as cutting-edge as Art Partner will be part of City Point.”
Marianne Tesler, CEO of Art Partner, said “As Brooklyn’s creative landscape becomes a leading cultural hub, Art Partner is excited to announce that we will be one of City Point’s tenants in early 2014. Brooklyn has become recognizable globally for its distinctive sense of art, culture and lifestyle and we are happy to join the movement in shaping Brooklyn’s future.”
Paul Travis, Project Executive and President of Washington Square Partners said “The announcement of our first office tenant is an important milestone in this project, and is a testament of the creative community’s faith in the future of Brooklyn.”
The first phase of City Point was completed in fall 2012. Construction on the second phase is underway and is scheduled for completion in fall 2015.
In addition to the office component, City Point will include 625,000 s/f of retail as well as two residential buildings, including 120 units of affordable housing, which total 620,000 square feet. The total combined space in Phases One and 2 is 1.3 million square feet.
Downtown Brooklyn is home to one of the busiest retail corridors in the nation and more than 100,000 office workers, over 40 arts and cultural organizations, as well as eight universities and colleges educating some 57,000 students.
Laurence Roberts, principal at Arch Brokerage, represented the landlord in the transaction. Art Partner was represented by Ken Fishel, of Legacy Real Estate.
