Mann and Sattler of Cresa sublease 39,848 s/f to Rent the Runway; Liss, Surry and Fastenberg of CBRE rep sublandlord

The New York office of Cresa has secured a 7.5-year, 39,848 s/f sublease at 345 Hudson St. for the headquarter offices of Rent the Runway, a popular service that allows women to rent designer apparel and accessories for a fraction of the retail cost. The commercial office space on the sixth floor of the Hudson Sq. building will be the new corporate headquarters for the e-commerce company. Rent the Runway is aiming to relocate by the end of this summer. Rent the Runway was represented by Sam Mann and Robert Sattler of Cresa New York, and Marcus Rayner, formerly of Cresa New York. The sublandlord was represented by Michael Liss, Bruce Surry and Ben Fastenberg of CBRE. "345 Hudson St. offered an ideal layout and location, which was especially important because Rent the Runway wanted to maintain its corporate presence in Hudson Sq.," said Sattler. Mann said, "Rent the Runway is in growth mode and was searching for a new headquarters that would help it attract and retain talent. The company outgrew its former office in the Hudson Sq. neighborhood and wanted a modern, pre-built space that could accommodate the company now and as it continues to expand over the next few years." Founded in 2009, Rent the Runway is an e-commerce company that gives women access to designer fashion through clothing and accessory rentals. To complement its online business, Rent the Runway began opening brick-and-mortar operations in 2013. Rent the Runway currently has five retail stores: one in Chicago; one in Washington, DC; one in Las Vegas; and two in New York City. In the last quarter of 2014, Rent the Runway completed a Series D round of funding, which brought its amount of total venture capital to $116 million. 345 Hudson Street was built in 1931 in the Hudson Square neighborhood of Manhattan, between King and Charlton Streets. The restored 17-story Art Deco building is accessible 24/7 and offers key-card access, a lobby attendant, a freight elevator and new thermal-pane windows. Located two blocks from the Hudson River Greenway, 345 Hudson is easily accessible via the Holland Tunnel and is a short walk from multiple mass transit options, including the 1, C and E subway lines and the PATH train.