Jack Resnick & Sons leases total 79,354 s/f to Bed Bath & Beyond and subsidiary One Kings Lane

250 Hudson Street - New York, NY

New York, NY According to Jack Resnick & Sons, in a major leasing transaction that reinforces Hudson Square’s growing appeal to a range of tenants, home goods retailer, Bed Bath & Beyond and its subsidiary One Kings Lane, an authority in home décor and design, will soon open a new design and photo studio at 250 Hudson St. and 315 Hudson St., two class A properties located at the epicenter of New York’s industry in Hudson Square.

Bed Bath & Beyond expects to occupy 27,778 s/f on the entire 11^th floor at 250 Hudson St. later this summer. During the second quarter of 2018, Bed Bath & Beyond and One Kings Lane also plans to occupy 51,576 s/f on the entire 4^th floor at 315 Hudson St., after relocating from its existing One Kings Lane offices on the 8^th floor of that building. The company will be bringing a substantial portion of the design and photography work for Bed Bath & Beyond, buybuy BABY, Christmas Tree Shops andThat! and Harmon Face Values in-house, and will be hiring a team of approximately 70 creatives to work across the design and photography studios The photo studio will leverage the best in class talent of the existing One Kings Lane photography, studio operation and production teams, and build upon it to support the entire Bed Bath & Beyond family of brands.

315 Hudson Street - New York, NY

Bed Bath & Beyond is the second major lease signing at 315 Hudson St. since the Resnicks commenced a $65 million transformation and renovation project in 2016. Last summer, the company finalized a 55,000 s/f lease for Galvanize, Inc., an innovative Denver-based tech learning community that is establishing its first East Coast campus at the building. The school, which offers web development, data science and data engineering education, workspace and networking to students, startups and established companies, will open in early 2017.

Bed Bath & Beyond was represented by Peter Gross and Jim Gross of Douglas Elliman Commercial in both 10-year transactions. Jack Resnick & Sons’ Brett Greenberg and Dennis Brady, along with a Newmark Grubb Knight Frank (NGKF) leasing team of David Falk, Jason Greenstein, Danny Levine and Peter Shimkin, represented building ownership in the 315 Hudson St. transaction and Greenberg and  Brady were the sole landlord advisors in the 250 Hudson St. lease.

“We are excited to welcome Bed Bath & Beyond to our Hudson Street properties,” Dennis Brady, Executive managing director at Jack Resnick & Sons. “We are thrilled that the company has selected 250 and 315 Hudson to create a top-tier, urban studio and believe their decision will solidify our Hudson Square portfolio as a leading destination for a wide variety of creative, advertising, media and technology tenants.”

“We are excited to share the plans to open our new Bed Bath & Beyond design and photo studio in Manhattan that will provide significant benefits and capabilities to help further reinforce our position as ‘the expert for the home,’” said Steven Temares, CEO and member of the Board of Directors of Bed Bath & Beyond Inc. “We believe bringing more of these capabilities in-house will allow us to enhance our ability to produce more inspirational content. In addition, we expect this effort, over time, to help improve our digital marketing assets and drive other operational efficiencies for the business.”

Jack Resnick & Sons has embarked on a major capital improvement program at 315 Hudson St.  The entire building will be upgraded to a state of the art class A office building to meet the needs of today and tomorrow’s burgeoning technology, advertising, media and creative companies (Industry to Ideation). The work on the ground floor retail stores has been completed and all spaces are at grade level. The new expanded lobby was designed by FX Fowle Architects and will feature a new glass entry, concierge desk, contemporary art work, new security turnstiles will be completed in the summer of 2017. Additionally all new mechanical systems including a cooling tower, modernized elevators with a destination dispatch system and new windows will be completed in 2019 as part of the second phase of the redevelopment.  Tenant amenities will include a bicycle storage room with lockers. 

The crowning jewel of the redevelopment will be the transformation of the existing rooftop into a new 10,000 s/f landscaped green roof that will have both indoor and outdoor space for building tenants.

According to Greenberg, ownership is currently marketing a 235,000 s/f block of contiguous office space on the top five floors of 315 Hudson St., which will be available for tenant possession beginning in early 2019. Other TAMI tenants in the building include Intent Media, Moda Operandi and One Kings Lane.

With a location steps from SoHo, TriBeCa, and Hudson River Park, both buildings are ideally situated near all neighborhood shopping, cultural institutions and restaurants—and in close proximity to the 1, C and E subway lines, as well as the Holland Tunnel, West Side Highway and surface transit.

Bed Bath & Beyond’s arrival in the neighborhood demonstrates the continued vitality of the Hudson Square submarket as a magnet for all types of companies. According to Ellen Baer, president of the Hudson Square Connection, over 40,000 people come to the area every day to work, study and visit.

The area continues to be a magnet for creative firms and new residential development. “Hudson Square is truly becoming a 24/7 neighborhood and we are excited to welcome Bed Bath & Beyond to the neighborhood,” said Baer.