September 6, 2019

Creative Agency Leads Trio of Dumbo Leases

Commercial Observer

Two creative agencies and a real estate investment company recently inked a trio of leases across two neighboring properties in Dumbo, Brooklyn, brokerage TerraCRG announced yesterday.

Ad agency Experience Interaction signed a 7,076-square-foot lease on the third floor of Two Trees’ 55 Washington Street, between Water and Front Streets.. The company, which has worked with clients like the Afropunk Festival and Jose Cuervo, currently has offices down the street from TerraCRG at 646 Dean Street in Prospect Heights. Asking rent in the five-year deal was $49 a square foot.

TerraCRG’s Caroline Pardo and Micah Hecht represented tenants Experience Interaction and Duke at 55 Washington, while Two Trees handled the deal in-house. Chris Havens of TerraCRG represented the landlord, Charles Cara, at 31 Washington Street, and tenant B-Reel did not have a broker.

“It is truly incredible to see the breadth of brands and industries that are relocating their companies to Dumbo,” Pardo said in prepared remarks. “The neighborhood has so much to offer as far as diversity and amenities, which is attractive to steadfast organizations.”

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