Porsche and Volvo sign leases at Industry City
Automakers will occupy a total of 60K s.f. with showrooms and service centers
A pair of European automakers are racing into Industry City.
Porsche and Volvo have recently signed leases in the 16-building, 6 million-square-foot industrial complex in Brooklyn’s Sunset Park neighborhood, according to owners Belvedere Capital, Jamestown and Angelo Gordon & Co.
Volvo plans to open 20,000 square feet of showroom and service center space in September, while Porsche is set to open a 10,000-square-foot showroom along with a 30,000-square-foot service center in January.
Jim Somoza, Industry City’s director of development, along with Chase Welles of the Shopping Center Group, represented the industrial park in the transaction. Both Porsche and Volvo were represented by Esther Bukai with Ripco Real Estate.
Bukai said in a statement that both automakers were looking for new sites that are conveniently located, allowing “flexible spaces to accommodate the needs of their showrooms, and abundant access to outdoor space for employees.”
Industry City’s owners suffered a setback last year when they had to abandon a rezoning effort after facing opposition from the community and elected officials. The measure would have allowed for more retail, academic and commercial space. Still, the 35-acre site has been attracting new tenants within the allowed limit. Most recently, furniture rental company Feather inked a 33,000 square-foot lease.
COMPANIES AND PEOPLE