News
RED BULL ALIGHTS IN CHELSEA
April 16, 2012
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| Friday afternoon, CBRE's Gregg Rothkin told us about Red Bull's first US HQ in Chelsea. Interior construction is going on now for the 42k SF in Atlas Capital Group and GreenOak Real Estate's 218 W 18th St. Red Bull, repped by MB Real Estate, is leasing for 15 years, moving from temporary sublease space in 40 Thompson. Gregg repped Red Bull with colleagues Peter Turchin, Steve Siegel, Ben Fastenberg, and Zak Snider, and says the owners took over the asset in January and have breathed new energy into it. (It's as if they gave the building a drink of some kind, one that increases energy and focus.) "Nobody ever knew they could make a deal here," he says. And activity breeds activity, he points out, so there's now a lease out on 13k SF and offers on four other floors in the 165k SF building. Red Bull's lease is for office and ground-floor event space for a recording studio, cocktail parties, art exhibits, lectures, and the like. Gregg tells us it needs to be up and running by Sept. 30, when the Red Bull Music Academy festival (think SXSW) gets started there. |
