JLL has been selected by the Brooklyn Navy Yard Development Corp. as the leasing agent for Building 77, a one million-square-foot building located on Flushing Avenue in the Brooklyn Navy Yard.
JLL will provide marketing and transaction services for the 16-story facility, which is currently undergoing a complete retrofit to accommodate industrial, research and technology uses.
The building, originally constructed as a warehouse that also housed offices for the U.S. Navy Central Command, offers 80,000 s/f floorplates and unobstructed views of Manhattan, the East River, and Brooklyn waterfront.
An anchor tenant will have the ability to incorporate a 20,000 s/f roof deck with 360-degree panoramic views for its exclusive tenant use.
On November 17, New York Mayor Bill de Blasio announced a $140 million investment to transform Building 77 into a modern facility, anticipated to generate more than 3,000 jobs.
The investment by the city, the BNYDC, and the Brooklyn Borough president and City Council, will be used to renovate and reposition the currently vacant industrial building.
The redevelopment of the building is now underway with delivery for tenant fit-out anticipated by third-quarter 2016.
The JLL team handling the leasing assignment includes Michael Shenot and Paul Mas, managing directors; Michael Berg, Edward DiTolla and Ruby Hwang, senior vice presidents; and Darren Ferguson, associate. The JLL team will work closely with the Brooklyn Navy Yard leasing team.
The project comes at a time when the existing 4.5 million-square-foot Navy Yard portfolio is 100 percent leased to more than 330 businesses. The Brooklyn market as a whole features strong market conditions.