Queens, NY A partnership between Atlas Capital Group, Partners Group (on behalf of its clients) and Invesco have signed a 25,744 s/f, six-year lease for the relocation and expansion of Canada-based Spin Master Corp.’s New York City headquarters at The Factory, the 1.1 million s/f loft office building in Long Island City.
The deal brings Spin Master’s total lease commitment at the Factory to 50,802 s/f. Spin Master will join its games and puzzle division, Cardinal Toys, on the sixth floor of the 10-story building. Newmark Knight Frank’s Brian Waterman, Howard Kesseler, Jordan Gosin and Alex Rosenblum represented the ownership.
The Factory Building continues to focus on supporting growing companies. “The fact that Spin Master doubled in size in less than a year proves our desire to provide a creative and amenity-rich environment that dynamic companies like Spin Master need in order to attract and retain talent,” said Jay Fehskens, senior director, asset management of Atlas.
Following the renovation of the 92-year-old former Macy’s warehouse, The Factory is especially sought-after by young millennials seeking open plan workspace, as well as a wide variety of contemporary amenities.
Located at 30-30 47th Avenue in LIC, The Factory was built in 1926 and renovated to create large flexible floors with high ceilings and oversized windows providing spectacular views of the Manhattan skyline. The building’s amenities include a newly designed lounge, variety of high-quality food, indoor bike storage, Factory Athletic Club, parking and private roof deck space. Spin Master joins other prominent tenants in The Factory, namely: HALO Branded Solutions, Ralph Lauren, Macy’s, and J. Crew’s Madewell among many others.
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