The New York Times looks at the revitalization of industrial spaces along Brooklyn’s waterfront, including the Brooklyn Army Terminal—helping to attract modern tenants:
Over the last 30 years, the city has invested $168 million in improvements at Brooklyn Army Terminal, a 1919 edifice that was the largest military supply base in the United States through World War II.
A year ago, after occupancy fell to 87 percent, the New York City Economic Development Corporation spent another $1.2 million upgrading elevators and subdividing some of the building’s 40,000-square-foot floors to lure smaller tenants. In the last year, the Economic Development Corporation has signed leases with 30 new tenants. Today, the 3.1 million square feet of leasable space is 93 percent occupied, with rents from $6 to $12 a square foot.
Stanislav Didenko ran his auto parts company, Xequipped, out of his apartment until he moved into a 2,700-square-foot office and warehouse space at Brooklyn Army Terminal in June.
The biggest draw for Mr. Didenko was the windows. The other warehouse spaces he considered had none. “We wanted the view and the light,” he said, standing along a bank of windows that overlooked the loading docks and train rails between the two Army Terminal buildings.
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