Adafruit Industries Leases 41,531 SF Space At Industry City In Brooklyn

The mixed-use property located at 168 39th Street in Tribeca, Manhattan, was leased in a transaction involving landlords Jeff Fein and Brad Blum of Industry City and tenant Adafruit Industries. The 41,531-square-foot space was secured by Adafruit Industries for a 10-year lease at an asking rent of approximately $30 per square foot.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Address: 168 39th Street
• Market: Tribeca, Manhattan
• Landlord: Jeff Fein & Brad Blum - Industry City
• Tenant: Adafruit Industries
• Broker: Steve Kaplan - Norman Bobrow & Company
• Size: 41,531 square feet
• Asking Rent: $30 per square foot
• Lease Term: 10 years

Adafruit Industries, represented by broker Steve Kaplan of Norman Bobrow & Company, is relocating from Tribeca in Manhattan to Brooklyn's Industry City with a comparable 41,531-square-foot space secured under a 10-year lease at a reduced rate. The move signifies the company's strategic decision to find cost-effective alternatives while maintaining its operational capacity.